U.S. dollar holds firm ahead of U.S. inflation data

Published by
Reuters UK

By Joice Alves and Tom Westbrook LONDON (Reuters) – The U.S. dollar held its ground on Wednesday as traders waited for this week’s U.S. consumer price data to see whether it will confirm that inflation is in retreat. The euro flattened against the dollar after a European Central Bank policymaker said the cycle of interest rate increases was approaching its end, while ECB staff published an article arguing that “very strong” wage pressures are likely over the next few quarters. While traders awaited U.S. inflation data to help firm up Federal Reserve interest rate hike expectations, ECB’s gover…

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