Investing.com – The euro climbed against the U.S. dollar on Tuesday, rising from a 3-day low and breaking above the 1.23 mark after a survey showed that German business sentiment unexpectedly rose in June.
EUR/USD hit 1.232 during early European trade, gaining 0.05%, after climbing from 1.2284, the pair's lowest since June 17.
The pair was likely to find resistance at 1.2672, the high of May 21, and support at 1.2115, the low of June 14.
Earlier in the day, the Ifo think tank said its business climate index, which is based on a monthly survey of 7,000 companies, rose to 101.8 during the month, up from 101.5 in May. Economists had expected the reading to come in at 101.2.
The euro rose versus sterling, meanwhile, with EUR/GBP gaining 0.14% to reach 0.8354.
The single European currency's earlier losses came amid doubts over the speed at which China would allow the yuan to appreciate.
Later Tuesday, an industry group was due to release key data on existing U.S. home sales, a leading indicator of economic health.
EUR/USD hit 1.232 during early European trade, gaining 0.05%, after climbing from 1.2284, the pair's lowest since June 17.
The pair was likely to find resistance at 1.2672, the high of May 21, and support at 1.2115, the low of June 14.
Earlier in the day, the Ifo think tank said its business climate index, which is based on a monthly survey of 7,000 companies, rose to 101.8 during the month, up from 101.5 in May. Economists had expected the reading to come in at 101.2.
The euro rose versus sterling, meanwhile, with EUR/GBP gaining 0.14% to reach 0.8354.
The single European currency's earlier losses came amid doubts over the speed at which China would allow the yuan to appreciate.
Later Tuesday, an industry group was due to release key data on existing U.S. home sales, a leading indicator of economic health.