Investing.com - The U.S. dollar edged higher in European trade Friday, but was on track for a hefty weekly fall after cooling inflation and weak retail sales brought Federal Reserve rate cuts back into focus.
"I now believe that it will take longer to reach our 2% goal than I previously thought," St. Louis Federal Reserve president Loretta Mester said on Thursday, adding that further monitoring of incoming data will be needed."I don't see any indicators now telling me ...
Traders have priced in 70 basis points of ECB cuts this year - a lot more than the just under 50 bps of easing priced in for the Fed.The Bank of England is also expected to cut rates from a 16-year high this summer, but volatility is likely to be limited ahead of the release of key U.K. inflation figures next week.
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