Forexpros – The euro climbed against the U.S. dollar reduced safe haven demand triggered by better than expected U.S. economic performance.
EUR/USD hit a high of 1.3096 during late London trade and posted a low of 1.3047 earlier, currently trading higher on the session at 1.3074, up 0.17%
The pair was likely to find support at 1.3064 and technical resistance exists at 1.3084.
The single currency gained against the dollar on increasing risk appetite due to stronger than expected U.S. economic figures.
U.S. Consumer spending increased by 0.3% in November, posting its fifth straight monthly advance.
In addition, new home sales climbed 2.6% last month adding to the optimism that the economy is on the rebound.
Kit Juckles of Societe Generale explained to Bloomberg, “The dollar is drifting gently lower, risk remains very tentatively on.”
The Euro was slightly higher against the pound with EUR/GBP adding 0.02 to hit 0.8326.
Investors are awaiting France’s GDP later
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