The euro fell against the US dollar on Friday, extending its Thursday’s drop. The currency was stronger against its other major counterparts, rallying against the Great Britain pound and the Japanese yen.
The eurozone zone inflation was at 0.3 percent in November, in line with expectations. It was a decline from the October’s figure of 0.4 percent. Other Friday’s reports were a mixed bag.
For the most part of the week, it looked like the euro is going to have a strong rally. The currency turned down versus the dollar after the OPEC meeting though the bearish forecasts have not been realized. It looks like EUR/USD is in a consolidation mode while other euro-crosses are mostly bullish.
EUR/USD dipped from 1.2466 to close at 1.2439. Meanwhile, EUR/JPY advanced from 146.69 to 147.63, and EUR/GBP rallied from 0.7921 to 0.7955.
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