Investing.com - The euro gained against the dollar on Friday after European policymakers hiked a lending ceiling for the continent's bailout funds, while a stronger than expected consumer confidence reading out of the U.S. prompted investors to sell dollars for riskier assets.
In U.S. trading on Friday, EUR/USD hit 1.3345, up 0.32%, up from a session low of 1.3294 and off from a high of 1.3375.
The pair was likely to find support at 1.3253, Thursday's low and resistance at 1.3386, Tuesday's high.
European finance ministers have agreed to raise a combined lending ceiling for two rescue funds to EUR700 billion from EUR500 billion, which bolstered the euro.
News that Spanish Prime Minister Mariano Rajoy is planning to roll out an austere budget also buoyed the euro.
In the U.S., the Thomson Reuters/University of Michigan's consumer sentiment index for March rose to 76.2, the highest since February 2011, from 75.3 in February, outpacing analysts' expectations.
The Commerce Department, meanwhile, reported that personal spending rose 0.8% in February, the most in seven months and above expectations for a 0.6% gain, although incomes rose only 0.2%, a little less than expected.
The news sparked demand for stocks worldwide in a global risk-on trading session.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.10% at 0.8344 and EUR/JPY up 0.23% at 109.94.
On Monday in the U.S., the Institute of Supply Management will release its Manufacturing Purchasing Managers Index, while in Europe, German, French and Spanish manufacturing figures are due out as well.
In U.S. trading on Friday, EUR/USD hit 1.3345, up 0.32%, up from a session low of 1.3294 and off from a high of 1.3375.
The pair was likely to find support at 1.3253, Thursday's low and resistance at 1.3386, Tuesday's high.
European finance ministers have agreed to raise a combined lending ceiling for two rescue funds to EUR700 billion from EUR500 billion, which bolstered the euro.
News that Spanish Prime Minister Mariano Rajoy is planning to roll out an austere budget also buoyed the euro.
In the U.S., the Thomson Reuters/University of Michigan's consumer sentiment index for March rose to 76.2, the highest since February 2011, from 75.3 in February, outpacing analysts' expectations.
The Commerce Department, meanwhile, reported that personal spending rose 0.8% in February, the most in seven months and above expectations for a 0.6% gain, although incomes rose only 0.2%, a little less than expected.
The news sparked demand for stocks worldwide in a global risk-on trading session.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.10% at 0.8344 and EUR/JPY up 0.23% at 109.94.
On Monday in the U.S., the Institute of Supply Management will release its Manufacturing Purchasing Managers Index, while in Europe, German, French and Spanish manufacturing figures are due out as well.