Euro Rebounds as German Inflation Accelerates

The Euro has rebounded from its one and a half week low against the US dollar on Friday morning, following data from Germany that showed wholesale prices rose 5.3% year-on-year in July.

This acceleration is up from a 4.9% increase in the previous month, which had marked the slowest growth in three months.

On a monthly basis, wholesale prices edged up 0.2%, reversing a 0.7% decline in June and marking the first increase in three months, although the rise was below the expected 0.4%.

The Euro has also gained from weakness in the US dollar following softer than expected US inflation data this week.