The US dollar weathered fresh losses on Friday, despite a stronger-than-expected snapshot on consumer spending, amid expectations that eurozone interest rates will be hiked next week.
The gap in US and eurozone rates — US rates are considerably lower — has already weighed on the dollar which has also been weakened by lackluster economic growth in the US.
The euro was changing hands at US$1.5790 around 9pm GMT, up from US$1.5756 late on Thursday. The US currency also fell against the yen, to ¥106.11 from ¥106.73 on Thursday.
The euro gained on Friday as many analysts expect the European Central Bank (ECB) will raise its benchmark interest rate by a quarter of a point to 4.25 percent next week to avert a spurt in inflation, largely triggered by rocketing world oil prices. A tightening action by the ECB would make the euro even more attractive to investors.
In late New York trading, the dollar was priced at 1.0185 Swiss francs, down from SF1.0236 late on Thursday.
The British pound was quoted at US$1.9948, up from US$1.9883 a day earlier.
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