Investing.com - The euro edged higher against the U.S. dollar on Thursday, pulling away from a four-month low but the single currency remained vulnerable amid concerns that a potential Greek exit from the euro zone would put further pressure on the bloc’s other members.
EUR/USD hit 1.2749 during late Asian trade, the daily high; the pair subsequently consolidated at 1.2740, adding 0.19%.
The pair was likely to find support at 1.2680, Wednesday’s low and resistance at 1.2789, the high of January 11.
Political turmoil in Athens continued to weigh on the single currency amid fears over the consequences of a possible Greek exit from the euro zone on other ailing nations such as Italy and Spain.
World Bank President Robert Zoellick said Greece's exit could undermine confidence in the euro area and trigger another liquidity crisis.
In addition, the European Central Bank stopped providing liquidity to a number of Greek banks as they are severely undercapitalized, moving them to an emergency liquidity assistance program.
Meanwhile, the greenback came under pressure after Federal Reserve policymakers said they are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate.
The minutes of the central bank's April 24-25 meeting released Wednesday stated that "several members" thought additional Fed support could be needed if the recovery lost momentum or if the risks to the economy became great enough.
Elsewhere, the euro was higher against the pound with EUR/GBP edging up 0.19%, to hit 0.8007.
Markets in France and Germany were to remain closed due to national holidays.
Later in the day, the U.S. was to produce government data on unemployment claims, followed by a report on manufacturing activity in the Philadelphia area.
EUR/USD hit 1.2749 during late Asian trade, the daily high; the pair subsequently consolidated at 1.2740, adding 0.19%.
The pair was likely to find support at 1.2680, Wednesday’s low and resistance at 1.2789, the high of January 11.
Political turmoil in Athens continued to weigh on the single currency amid fears over the consequences of a possible Greek exit from the euro zone on other ailing nations such as Italy and Spain.
World Bank President Robert Zoellick said Greece's exit could undermine confidence in the euro area and trigger another liquidity crisis.
In addition, the European Central Bank stopped providing liquidity to a number of Greek banks as they are severely undercapitalized, moving them to an emergency liquidity assistance program.
Meanwhile, the greenback came under pressure after Federal Reserve policymakers said they are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate.
The minutes of the central bank's April 24-25 meeting released Wednesday stated that "several members" thought additional Fed support could be needed if the recovery lost momentum or if the risks to the economy became great enough.
Elsewhere, the euro was higher against the pound with EUR/GBP edging up 0.19%, to hit 0.8007.
Markets in France and Germany were to remain closed due to national holidays.
Later in the day, the U.S. was to produce government data on unemployment claims, followed by a report on manufacturing activity in the Philadelphia area.