On Friday, the US dollar keeps losing grounds against the euro. The currency has already plunged on weak inflation data lately.
According to US Labor Ministry, core inflation in the country developed at a slower pace than expected. With steadily slow inflation, it seems that the regulator will not need to speed up the process of monetary normalization, as reported MarketWatch.
The greenback is reportedly depressed by the fact that the market is less optimistic about interest rate increase by US Federal Reserve.
One of the officials stated that there is no need for a further increase of the interest rate as the monetary policy shows neutral state now, with inflation expectations close to the targets, as news reports read.
In the second half of Friday, the euro improved against the US dollar to some 1.1962. For reference, the previous session was closed at 1.1915.
Besides, the greenback somewhat weakened in the pair with Japanese yen – 109.25. At the same time, euro to yen rose to 130.60 (130.35 earlier).