Euro on track for second weekly loss in row

Euro rose in European trade on Friday away from 3-1/5 month lows against dollar, while still heading for the second weekly profit in a row amid concerns about divergent monetary policies for US and Europe. 

EUR/USD rose 0.1% to 1.1780, with an intraday low at 1.1762, after closing down 0.2% yesterday to near 3-1/5 month lows at 1.1752. 

Euro is still down 0.3%% against dollar this week on track for the second weekly decline in a row. 

The European Central Bank voted to maintain interest rates unchanged yesterday, while carrying on its bonds purchases program valued at 1.85 trillion euros a month until next March.

ECB President Christine Lagarde warned the new Delta coronavirus strain could represent a new threat to recovery in the region, and asserting it's still too early to tighten the policies as inflation and recovery remain tenuous.