By Ankur Banerjee
SINGAPORE (Reuters) – The dollar was broadly steady near a six-week high on Thursday, as investors await GDP and other data this week to gauge where U.S. rates are headed, while the euro was soft ahead of the European Central Bank’s policy meeting later in the day.
Data overnight showed U.S. business activity picked up in January and inflation appeared to abate, with a measure of prices charged by companies for their products falling to the lowest level in more than 3-1/2 years.
The dollar index, which measures the U.S. currency against six rivals, rose 0.06% to 103.33 after dropping 0.2% on Tuesday as traders consolidated their positions ahead of the Federal Reserve’s policy meeting next week.
The first reading of U.S. gross domestic product for the fourth quarter is expected to show an economy resilient to the steep interest rate increases, said Carol King, a currency…
