Euro Recovers Against Global Currencies Amid Ongoing Inflation Concerns

The euro attempted to recover against a basket of global currencies in European trading on Friday.

The single currency rose by more than 0.15% to $1.1260, from an opening level of $1.1242, after reaching a low of $1.1232 earlier in the day.

This rebound comes despite the euro being on track for its fourth consecutive weekly loss due to concerns over debt and energy prices in Europe, as well as interest rate differentials between Europe and the US.

Investors are awaiting key European inflation data for September later today to reassess expectations for European interest rates and gauge the extent of inflationary pressures facing ECB policymakers.