Any thoughts that the 2 percent inflation goal long sought by the U.S. Federal Reserve and the European Central Bank might possibly be in for a tweaking were dashed Friday by the chiefs of the two institutions.
Euro bulls are set for an anxious summer ahead as doubts creep in over how far the ostensibly still-hawkish European Central Bank will go with interest rate rises. The euro has been on a stellar run, up roughly 3.5 percent against the dollar so far this year to just under $1.11. Measured against the currencies of the euro zone s main trading partners, it is not far off this month s record highs.
Both gold and silver prices erased this week s earlier gains versus the Dollar on Thursday as strong US data gave a bigger hit to precious metals markets than either the US Fed or ECB s Eurozone interest-rate rises