The U.S. dollar edged higher against the euro on Thursday after the European Commission slashed its economic growth forecasts for the euro zone due to the expected impact of trade tensions and other challenges for the bloc's largest countries.
In a quarterly economic forecast, the EU executive revised down its estimates for inflation in the 19-country currency bloc next year and also cut euro zone growth estimates for this year and next.
The euro was 0.08 percent lower against the greenback, on pace for its fourth session of losses.
The dollar index, which tracks the greenback versus the euro, yen, British pound and three other currencies, was up 0.04 percent at 96.433, on pace for its sixth session of gains.
The dollar's gains come despite the Federal Reserve’s dovish shift on interest rates last week.
Source : Reuters