The U.S. dollar edged lower in early European trade Thursday, consolidating after gains overnight in the wake of an onslaught of dire economic data. Sterling has shown strength after the Bank of England remained on hold.

At 3:15 AM ET (0715 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 100.023, down 0.1%, while EUR/USD rose 0.2% to 1.0812. USD/JPY gained 0.2% to 106.31.

Sterling recovered from a two-week low against the dollar after members of the Bank of England’s Monetary Policy Committee decided unanimously to keep interest rates at 0.1% and opted by a 7-to-2 margin to hold its quantitative easing program at £200 billion.

At 3:20 AM ET, GBP/USD pushed 0.6% higher to 1.2410.

Source : Investing.com