Investing.com – The euro was up against the yen on Tuesday, advancing to hit a daily high after data showed that the ZEW index of German consumer sentiment unexpectedly jumped in November.
EUR/JPY hit 113.44 during European afternoon trade, the daily high; the pair subsequently consolidated at 113.33, gaining 0.42%.
The pair was likely to find support at 112.58, Monday’s low and short-term resistance at 113.62, Monday’s high.
Earlier Tuesday the ZEW Centre for Economic Research said its index of German consumer sentiment jumped unexpectedly in November, rising to 1.8 up from -7.2 in October. That was in excess of an expected increase to -5.9.
The current conditions index also came in better than expected, up to 81.5 from 72.6 in October, beating expectations of an increase to 76.3.
Elsewhere, European Union finance ministers were meeting to find a way to end Ireland's debt crisis, with Dublin resisting pressure to seek a bailout, saying that only its banks needed help.
The euro was also up against the U.S. dollar, with EUR/USD climbing 0.37% to hit 1.3632.
Also Tuesday, Japan’s parliament approved legislation to fund Prime Minister Naoto Kan’s 5.1 trillion yen stimulus package to support the economic recovery.
EUR/JPY hit 113.44 during European afternoon trade, the daily high; the pair subsequently consolidated at 113.33, gaining 0.42%.
The pair was likely to find support at 112.58, Monday’s low and short-term resistance at 113.62, Monday’s high.
Earlier Tuesday the ZEW Centre for Economic Research said its index of German consumer sentiment jumped unexpectedly in November, rising to 1.8 up from -7.2 in October. That was in excess of an expected increase to -5.9.
The current conditions index also came in better than expected, up to 81.5 from 72.6 in October, beating expectations of an increase to 76.3.
Elsewhere, European Union finance ministers were meeting to find a way to end Ireland's debt crisis, with Dublin resisting pressure to seek a bailout, saying that only its banks needed help.
The euro was also up against the U.S. dollar, with EUR/USD climbing 0.37% to hit 1.3632.
Also Tuesday, Japan’s parliament approved legislation to fund Prime Minister Naoto Kan’s 5.1 trillion yen stimulus package to support the economic recovery.