Investing.com - The euro moved higher against the dollar on Thursday in wake of a Federal Reserve decision to keep its monthly USD85 billion bond-buying program in place.
Better-than-expected U.S. data trimmed the single currency's near eight-month highs against the greenback..
In U.S. trading on Thursday, EUR/USD was up 0.10% at 1.3535, up from a session low of 1.3501 and off from a high of 1.3568.
The pair was likely to find support at 1.3325, Tuesday's low, and resistance at 1.3711, the high from Feb. 1.
The Federal Reserve on Wednesday concluded a two-day monetary policy meeting and made no changes to its USD85 billion bond-buying program, which weakens the dollar to spur recovery.
Many market participants were expecting the U.S. central bank to trim the total by USD10 billion or more now that the economy is gaining steam, though the Fed said it wanted to see more evidence that recovery will be sustained before adjusting the pace of its purchases.
Currently, the Fed buys USD40 billion a month in mortgage-backed securities and USD45 billion in longer-term Treasury securities.
The Fed's announcement sent the dollar falling through surprisingly solid U.S. data curbed losses.
The Federal Reserve Bank of Philadelphia said its Philly Fed manufacturing index rose to a 30-month high of 22.3 in September from 9.3 in August, blowing past expectations for an increase to 10.0.
Industry data revealed that U.S. existing home sales rose 1.7% to 5.48 million units last month, from 5.39 million in July. Analysts were expecting existing home sales to fall 2.6% to 5.25 million in August.
Also on Thursday, the Department of Labor reported that the number of individuals filing for initial jobless claims in the U.S. rose by 15,000 to a seasonally adjusted 309,000 in the week ending Sept. 14, from an upwardly revised 294,000 the previous week.
Analysts were expecting the number to rise by 36,000 to 330,000 last week.
Meanwhile, the U.S. current account deficit narrowed to USD98.9 billion in the second quarter, from an downwardly revised deficit of USD104.9 billion in the three months to March. Analysts were expecting the current account deficit to narrow to a USD97 billion.
Elsewhere, the euro was up against the pound and up against the yen, with EUR/GBP trading up 0.66% at 0.8431 and EUR/JPY trading down 1.42% at 134.31.
The yen came under pressure against most currencies after Bank of Japan Board Member Takahide Kiuchi said the central bank may expand its easing programs.
Better-than-expected U.S. data trimmed the single currency's near eight-month highs against the greenback..
In U.S. trading on Thursday, EUR/USD was up 0.10% at 1.3535, up from a session low of 1.3501 and off from a high of 1.3568.
The pair was likely to find support at 1.3325, Tuesday's low, and resistance at 1.3711, the high from Feb. 1.
The Federal Reserve on Wednesday concluded a two-day monetary policy meeting and made no changes to its USD85 billion bond-buying program, which weakens the dollar to spur recovery.
Many market participants were expecting the U.S. central bank to trim the total by USD10 billion or more now that the economy is gaining steam, though the Fed said it wanted to see more evidence that recovery will be sustained before adjusting the pace of its purchases.
Currently, the Fed buys USD40 billion a month in mortgage-backed securities and USD45 billion in longer-term Treasury securities.
The Fed's announcement sent the dollar falling through surprisingly solid U.S. data curbed losses.
The Federal Reserve Bank of Philadelphia said its Philly Fed manufacturing index rose to a 30-month high of 22.3 in September from 9.3 in August, blowing past expectations for an increase to 10.0.
Industry data revealed that U.S. existing home sales rose 1.7% to 5.48 million units last month, from 5.39 million in July. Analysts were expecting existing home sales to fall 2.6% to 5.25 million in August.
Also on Thursday, the Department of Labor reported that the number of individuals filing for initial jobless claims in the U.S. rose by 15,000 to a seasonally adjusted 309,000 in the week ending Sept. 14, from an upwardly revised 294,000 the previous week.
Analysts were expecting the number to rise by 36,000 to 330,000 last week.
Meanwhile, the U.S. current account deficit narrowed to USD98.9 billion in the second quarter, from an downwardly revised deficit of USD104.9 billion in the three months to March. Analysts were expecting the current account deficit to narrow to a USD97 billion.
Elsewhere, the euro was up against the pound and up against the yen, with EUR/GBP trading up 0.66% at 0.8431 and EUR/JPY trading down 1.42% at 134.31.
The yen came under pressure against most currencies after Bank of Japan Board Member Takahide Kiuchi said the central bank may expand its easing programs.