Forex – Euro Stable Despite Disappointing Inflation Data

© Reuters. – The euro was slightly higher on Friday, despite lower than expected inflation data.

Eurozone rose at a slower-than-expected pace in December, increasing expectations that the European Central Bank will keep interest rates unchanged.

The numbers came just after ECB policymaker Benoit Coeure said that interest rates in the EU are likely to remain at low levels until the target 2% is reached.

“The interest rates we set for the euro zone economy will stay at the current level… until at least after the summer of 2019 and as long as necessary,” Coeure said Friday on France Inter radio.

inched up 0.09% to 1.1401 as of 5:40 AM ET (10:40 GMT).

Meanwhile, sterling was higher as the accelerated in December. Still, the economy is losing momentum ahead of the UK’s departure from the European Union.

increased 0.4% to 1.2676.

The Japanese yen weakened but the dollar remained lower amid fears of a global slowdown. Trade talks between the U.S. and China Jan. 7-8 have failed to lift sentiment, as trade tensions continue to rattle financial markets.

The , which measures the greenback’s strength against a basket of six major currencies, slipped 0.08% to 95.80 while rose 0.3% to 107.97.

-Reuters contributed to this report.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.