Thursday's midday trade: Euro bounces off six-week low

The euro bounced off a six-week low against the dollar on Thursday as an ECB policymaker said April's interest rate rise was "certainly not" a one-off. European Central Bank policymaker Luc Coene on Thursday told Reuters, inflation risks in the eurozone have increased and price pressures are building. The euro was last up 0.3 percent against the dollar at $1.4240, near the session peak of $1.4259, and well off the session low of $1.4121.
The dollar index rose as high as 75.645, its strongest in more than three weeks, taking it well above a three-year low touched only last week, before surrendering gains to trade at 75.182, down 0.2 percent. The early broad recovery in the dollar also pushed it to a one-week high against the yen before it slipped back to trade at 80.77, down 0.4 percent on the day.