Investing.com - The euro rose against the dollar on Tuesday after investors viewed the currency as attractively priced against its U.S. counterpart, which has rallied in recent weeks on expectations for U.S. monetary policy to tighten while Japan and Europe move in the opposite direction.
In U.S. trading, EUR/USD was up 0.30% at 1.2455, up from a session low of 1.2394 and off a high of 1.2457.
The pair was likely to find support at 1.2357, Friday's low, and resistance at 1.2510, Monday's high.
The dollar cooled its rally on sentiments the U.S. economy continues to improve despite spotty data.
The dollar softened on Friday after the Department of Labor reported that the U.S. economy added 214,000 jobs in October, missing expectations for an increase of 231,000.
While not overwhelmingly disappointing, the less-than-stellar report gave investors room to sell the greenback for profits and take time to rethink when the Federal Reserve will hike interest rates next year.
On Monday, the dollar resumes its rally on sentiments that the jobs report was strong enough to keep the Fed on track to hike interest rates some time in 2015 considering that the economy continues to add over 200,000 jobs a month save an anomaly here or there, though bargain hunters brought the single currency back into positive territory on Tuesday.
Elsewhere, the euro was flat against the pound, with EUR/GBP down 0.01% at 0.7839, and up against the yen, with EUR/JPY up 0.90% at 143.89.
On Wednesday, the euro zone is to produce data on industrial production.