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02-18-2011, 10:30 AM
NEW YORK (MarketWatch) -- The euro turned up against the dollar in Friday morning trading in the U.S. after European Central Bank board member Bini Smaghi said in an interview with Bloomberg that the central bank may have to raise interest rates as global inflation pressures mounted. He said keeping inflation expectations in check may require pre-emptive action. The euro shot up after the comments were published, according to Action Economics. The region's shared currency turned up to $1.3634, up from around $1.3550 earlier and compared to $1.3607 late Thursday. The dollar index , measure of the U.S. unit against a basket of six currencies, slipped to 77.871 from 77.987 in North American trade late Thursday.
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