Euro Stays Weaker Against Dollar After Eurozone Inflation Data
Dow Jones
Jul 31
1007 GMT - The euro shows little reaction, remaining weaker against the dollar, even after data showed an unexpected acceleration in eurozone inflation in July. Headline annual inflation rose to 2.9% in July from 2.8% in June while core inflation rose to 2.5% from 2.4%. Economists in a WSJ survey expected headline and core inflation to remain at June's levels. The data support the case for the European Central Bank to raise interest rates further this year. However, this was already largely priced in ahead of the data, limiting the euro's reaction. The euro falls 0.2% to $1.1506, little changed from levels before the data.
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