Dollar squeezed as inflation drives up euro

SINGAPORE, March 2 (Reuters) – The dollar nursed losses on Thursday as optimism about China’s reopening was supported by encouraging data and underpinned Asian currencies, while sticky inflation had the euro eying its best week in a month and a half. The dollar lost 0.9% on the euro overnight, and since it moved lower despite U.S. yields rising some are speculating it might have peaked as February’s rally runs out of steam. The euro is up 1.2% on the week and last bought $1.0667 with hotter-than-expected German inflation in February adding to pressure on the European Central Bank to raise…