Euro to mark largest weekly loss in 19 months

Euro rose in European trade on Friday against a basket of major rivals, moving away from two-week lows versus the dollar, while still on track for the biggest weekly loss in 19 months, after the European Central Bank decided to extend the bonds purchase program while trimming sown its size and ruling out a rate hike before mid-2019. 

EUR/USD rose 0.2% as of 08:04 GMT to 1.1590 from the opening of 1.1565, with a session-high at 1.1594, and a low at 1.1543. 

Euro slumped 1.9% against the dollar yesterday, the heftiest loss since the Brexit vote on June 24, 2016, after ECB's meeting. 

Euro is down 1.5% so far this week, heading for the largest weekly loss since November 2016. 

The ECB voted to hold interest rates at their current record lows, while extending the bonds purchase program for three more months until December, and trimming it down to 15 billion euros a month from the previous 30 billion. 

Now investors await later euro zone inflation data, with consumer prices expected to have risen 1.9% in the final reading for May, same as the preliminary reading, and up from 1.2% in April.

Core consumer prices are expected to have risen 1.1%.