By Rae Wee
SINGAPORE, April 14 (Reuters) – The U.S. dollar languished near a two-month low against major peers on Friday while the euro flirted with a one-year peak, as traders ramped up expectations of an imminent end to the U.S. Federal Reserve’s rate-hike cycle on signs of cooling inflation.
Data from the U.S. Labor Department on Thursday showed the producer price index (PPI) fell by the most in nearly three years last month, coming a day after inflation data pointed to moderation in consumer prices.
The greenback took another leg down following Thursday’s data release, with the dollar index sinking to a two-month low of 100.84 in the previous session.
It last stood at 100.95 in early Asian trade, and was headed for a weekly decline of more than 1%, its steepest since January.
Meanwhile, the euro rose 0.07% to $1.1055, after surging to a one-year top of $1.1068 on Thursday.
The British pound was similarly…
