The euro rose above $1.17 to a two-week high on Friday after weaker-than-expected U.S. inflation data continued to weigh on the dollar and a broader recovery in investment sentiment supported the single currency.
The Turkish central bank’s decision on Thursday to hike interest rates sparked a recovery across emerging market assets while hopes of a new round of trade talks to reduce tensions between United States and China buoyed broader market sentiment further on Friday.
The euro rose 0.2 percent to $1.1714, its highest since Aug. 30, while the dollar index fell.
The European Central Bank kept policy unchanged as expected on Thursday, staying on track to end its bond purchases this year and raise interest rates next autumn. The policy meeting’s impact on the euro was minimal.
Source : Reuters