Key Points
NEW YORK (Reuters) -The dollar pared gains against the euro on Friday after U.S. data showed personal consumption expenditure growth slowed in February, supporting hopes of a softer monetary policy approach from the Federal Reserve...
U.S. consumer spending rose moderately in February, likely payback after surging the prior month, and while inflation showed signs of cooling it remained elevated, which could see the Fed raising interest rates one more time this year...
Earlier in the session, data showed euro zone inflation dropped by the most on record in March, but core price pressures, which exclude food and energy, accelerated, maintaining pressure on the European Central Bank to keep raising rates...
Both currencies were little changed on the day after data showed Chinas manufacturing activity expanded at a slower pace in March, raising doubts about the strength of a post-COVID factory recovery amid weaker global demand and a property market downturn...
Sterling was about flat on Friday at $1.2393, but on pace to finish the week up 1.3% against the greenback after data showed Britains economy avoided a recession in the final months of 2022...
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