The U.S. dollar edged higher on Friday and was heading for its biggest weekly gain since February.
The euro was down marginally against the dollar at $1.091, after falling to its lowest since April 11 the previous day at $1.09.
A sharp slowdown in U.S. inflation has been a key driver, as has Europe's better-than-expected economic performance, which has pushed up the euro. Many analysts expect the Federal Reserve to hold interest rates at the 5% to 5.25% level it raised them to last week. The Bank of England hiked rates by 25 basis points to 4.5% on Thursday. Data on Friday showed the British economy grew 0.1% in the first quarter.Adam Cole, chief currency strategist at RBC Capital Markets, said he disagrees with the dominant market view that the dollar is likely to keep falling.
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