Euro falls against the dollar after euro zone inflation data streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
But market reaction to the data was muted after the euro rose 0.9% against the dollar on Wednesday, its biggest daily jump in a month, after prices in German rose more than hoped last month. The hotter-than-expected German inflation in February came after unexpectedly strong readings in France and Spain, reinforcing the case for the European Central Bank to keep raising interest rates.
Officials from the US and Australian central banks have reiterated that inflation remains too high, and warn that interest rates will have to keep rising and stay higher longer than anticipated.