Investing.com – The euro erased earlier losses against the U.S. dollar on Thursday, rising to a 3-day high amid hopes that European banks would not have to borrow as much as previously expected at European Central Bank tender later in the day.
EUR/USD hit 1.2305 during European morning trade, the pair's highest since June 28, gaining 0.46% after rising from a daily low of 1.2195.
The pair was likely to find support at 1.2115, the low of June 14, and resistance at 1.2466, the high of June 21.
Later in the day, a 1-year euro zone refinancing program introduced by the ECB to boost liquidity was due to expire with European banks due to repay approximately EUR 442 billion to the ECB.
The euro was also up against the pound, with EUR/GBP gaining 0.59% to hit 0.8236.
Also Thursday, the U.S. was to release key data on initial jobless claims as well as data on pending U.S. home sales and a report on U.S. manufacturing prices.
EUR/USD hit 1.2305 during European morning trade, the pair's highest since June 28, gaining 0.46% after rising from a daily low of 1.2195.
The pair was likely to find support at 1.2115, the low of June 14, and resistance at 1.2466, the high of June 21.
Later in the day, a 1-year euro zone refinancing program introduced by the ECB to boost liquidity was due to expire with European banks due to repay approximately EUR 442 billion to the ECB.
The euro was also up against the pound, with EUR/GBP gaining 0.59% to hit 0.8236.
Also Thursday, the U.S. was to release key data on initial jobless claims as well as data on pending U.S. home sales and a report on U.S. manufacturing prices.