Investing.com - The euro edged up to two-and-a-half week highs against the U.S. dollar on Monday, as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy meeting this week.
EUR/USD hit 1.1360 during late Asian trade, the pair's highest since August 27; the pair subsequently consolidated at 1.1351, up 0.11%.
The pair was likely to find support at 1.1253, Friday's low and resistance at 1.1366, the high of August 27.
Sentiment on the dollar remained vulnerable amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday.
Data on Friday showed that the preliminary reading of the University of Michigan’s consumer sentiment index fell to 85.7 from 91.9 in July, compared to forecasts of 91.2.
Separately, the Labor Department reported that the producer price index was flat last month after a 0.2% increase in July.
Fed Chair Janet Yellen has said that an interest rate increase is data dependent but has also indicated that she expects to begin raising rates before the end of the year.
The euro was steady against the pound, with EUR/GBP at 0.7345.