Euro Holds Above 1.1500 Amid Cooling US Inflation

The euro has maintained its strength against the US dollar, trading above the psychological level of 1.1500.

This comes as a result of cooler-than-expected US inflation data, which showed a year-on-year inflation rate of 6.5% for December, down from 7.1% in November and marking the sixth consecutive month of slowing price growth.

The decrease in inflation has led traders to scale back bets on further interest rate hikes by the Federal Reserve, reducing the appeal of the dollar.