Euro Surges Past 1.1500 as US Inflation Report Weighs on Dollar

The Euro has gained strength against the US Dollar, pushing above 1.1500 on Friday's early European session.

This comes after a softer-than-expected US inflation report, with wholesale costs for goods and services in the United States remaining flat in July, according to the Bureau of Labor Statistics.

The core Producer Price Index (PPI) rose 0.2%, below market consensus of a 0.3% gain, while on an annual basis, the headline PPI climbed 4.7% YoY and the core PPI rose 4.2% YoY during the same period.

The US Dollar has been under pressure following Wednesday's Consumer Price Index (CPI) data, which showed inflationary pressure easing.