Euro Tumbles Below $1.1650 Amid Strong US Inflation Data

The euro slipped below $1.1650 for the second consecutive day as the US dollar found support from stronger-than-expected PCE inflation data.

This data reinforced the case for further Federal Reserve tightening, but did little to change the implied probability of a September rate rise, which remains at 36% according to the CME Group's FedWatch Tool.

The euro area's consumer sentiment and economic data has been mixed, with Germany's GfK Consumer Sentiment Index surprising to the upside and the European Central Bank due to publish minutes from its latest meeting on Thursday.