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Currency Market Analysis

Global Themes

Hard data from Europe are giving the U.S. dollar a hard time. The U.S. currency favored five- and seven-month lows against the euro and sterling Friday after a dose of big ticket data from Europe. A day after the head of the European Central Bank said he wanted to see healthier inflation, the 19-country economy acquiesced. Euro area inflation hit the ECB’s just below 2 percent bullseye thanks to a spike in core inflation to 1.2 percent. The pound defied slower U.K. growth during the first quarter and rose to September peaks. The dollar has waxed but mostly waned of late as markets cast a wary

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