Investing.com – The euro hit a daily high against the U.S. dollar on Wednesday, after mixed euro zone PMI data and ahead of a key interest rate decision by the Federal Reserve.
EUR/USD hit 1.2302 during European morning trade, a daily high; the pair subsequently consolidated at 1.2293, gaining 0.17%. The pair was likely to find resistance at 1.2466, Monday's high, and support at 1.2115, the low of June 14.
Earlier in the day, official data showed that while activity in France's services sector increased at a faster rate than forecast in June, activity in Germany’s manufacturing sector fell at a faster rate than forecast during the same month.
The euro was down against the pound meanwhile, with EUR/GBP shedding 0.5% to hit 0.8241.
Later Wednesday, the U.S. was due to publish data on new home sales and the U.S. Federal Reserve was to announce its benchmark interest rate, the Federal Funds Rate.
EUR/USD hit 1.2302 during European morning trade, a daily high; the pair subsequently consolidated at 1.2293, gaining 0.17%. The pair was likely to find resistance at 1.2466, Monday's high, and support at 1.2115, the low of June 14.
Earlier in the day, official data showed that while activity in France's services sector increased at a faster rate than forecast in June, activity in Germany’s manufacturing sector fell at a faster rate than forecast during the same month.
The euro was down against the pound meanwhile, with EUR/GBP shedding 0.5% to hit 0.8241.
Later Wednesday, the U.S. was due to publish data on new home sales and the U.S. Federal Reserve was to announce its benchmark interest rate, the Federal Funds Rate.