Euro Holds Near Three-Week Highs on Upbeat Data, Cheaper Oil
The euro traded flat against the dollar near 1.1550 on Thursday, supported by positive economic data and falling oil prices, after a 1.6% rally from last week.
EURUSD
EUR/USD was little changed around 1.1550 during early European hours on Thursday, consolidating near three-week highs. The pair had surged about 1.6% from the previous week’s trough.
Traders cited broadly positive Eurozone data and a retreat in oil prices as factors behind the single currency’s resilience. The lower energy cost eased pressure on the region’s trade terms.
The steadiness suggested the market was digesting recent gains, with focus turning to upcoming US releases for further direction.
Source: FXStreet Forex News