The common currency of the European Union marked its highest value against the world's reserve currency on Friday after the European Central Bank left policy unchanged, according to Bloomberg.
The euro is likely to perform in response to economic data about the U.S. labor market, which is slated for release on Friday. Career opportunity likely was impacted by harsh coldness in numerous regions. Following ECB meetings, President Mario Draghi said the body he serves did not determine any intervention was necessary following its review of economic data.
"A large part of the market was expecting some form of action from the ECB today, or some indication that monetary easing would be coming in the very near future," chief market analyst Omer Esiner with currency brokerage Commonwealth Foreign Exchange Inc. in Washington told Bloomberg on Friday. "We didn't get either of those things, which is why the euro is trading higher across the board."
While the euro has edged up in value, inflation has fallen about 0.4 percentage points, the ECB president said.
Draghi said inflation is likely to continue climbing, which casts doubt about monetary policy, Bloomberg reports.
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