The euro held near multi-month highs against rival majors Thursday on expectations the European Central Bank will expand its bond-buying program later in the day to shore up the coronavirus-stricken economy.
The euro's strength helped to push the dollar's index against a basket of key currencies to the lowest level in nearly three months.
The euro stood at $1.12305, having risen to $1.1258 on Wednesday, its highest levels since mid-March and the seven straight sessions of gains.
The European Central Bank is widely expected to increase the size of its 750 billion euro ($669 billion) Pandemic Emergency Purchase Programme (PEPP) as early as Thursday.
The ECB delivers its policy decision at 5:15 pm and ECB President Christine Lagarde holds a news conference at 6:00 pm.
The currency has been bolstered by hopes for European Union-wide fiscal support measures after Germany last month threw its weight behind the idea of a European Union recovery fund, breaking away from its long-held tradition to resist moves towards fiscal integration in the currency bloc.
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The Indian rupee logged its worst week against the dollar in 14 weeks
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Sterling traded slightly lower versus the U.S. dollar and was unmoved against the euro on Friday
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