LONDON/TOKYO, May 31 (Reuters) - The U.S. dollar rose strongly on Wednesday to a more than two-month high after data showed European inflation is cooling quicker than expected and China's recovery is sputtering.
That helped the dollar index , which measures the greenback against six major peers, climb to 104.63, its highest since March 16.
Data on Wednesday showed inflation in France and some of Germany's biggest states is slowing quickly.
Euro zone-wide inflation data is due out tomorrow.
"European inflation is rolling back now and you're taking back some of the previously anticipated hikes from the ECB," said Carl Hammer, chief strategist at European bank SEB.
Persons:
Carl Hammer, SEB, Hammer, Shusuke Yamada, Bart Wakabayashi, Sterling, Tayyip Erdogan, Harry Robertson, Kevin Buckland, Mark Potter, Helen Popper Our
Organizations:
U.S, Analysts, European Central Bank, ECB, U.S ., Bank of America, State, Thomson
Locations:
TOKYO, France, U.S, China, COVID, Tokyo