Forexpros –
Forexpros – The euro eased slightly higher against the U.S. dollar on Wednesday despite negative euro zone economic news and German summit skepticism.EUR/USD hit a high of 1.3454 during early U.S. trade, subsequently falling to a low of 1.3352 prior to launching the current assault on the daily high up 0.19%.
The pair was likely to find support at 1.3373 and resistance exists at 1.3454, the session’s high.
British industrial output dropped more than forecast last month. Official data indicates that this crucial metric fell at the fastest pace in six months.
Although investors remain cautiously optimistic about the upcoming European Union summit, Germany has made its skepticism clear casting fear into the euro.
However, France remains optimistic about Friday’s summit.
On Thursday, The European Central Bank is widely expected to cut interest rates by 25 basis points to a record low of 1%.
The euro was slightly lower against the pound, with EUR/GBP giving back 0.58% to hit 0.8542.
Earlier, the MBA Mortgage Application figure positively surprised in the United States.
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