The U.S. dollar firmed against its major counterparts in the European session on Friday, as the Federal Reserve's preferred measure of core inflation accelerated in the month of June, sparking hopes that the central bank will continue its tightening cycle in the months ahead.
Data from the Commerce Department showed that the annual rate of core consumer price growth accelerated to 4.8 percent in June from 4.7 percent in May. Economists had expected the core PCE price index to match the previous month's rate.
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