Investing.com - The euro was up against the U.S. dollar on Wednesday, re-approaching a one-month high after upbeat comments from the Italian prime minister, while investors looked ahead to a meeting of euro zone finance ministers on Friday.
EUR/USD hit 1.3359 during late Asian trade, the session high; the pair subsequently consolidated at 1.3356, gaining 0.32%.
The pair was likely to find support at 1.3312, the session low and resistance at 1.3384, Tuesday’s high and a one-month high.
The euro found support after Italian Prime Minister Mario Monti said the debt crisis in the euro zone was “almost over.”
Speaking in Tokyo earlier, Monti also said that the root cause of the crisis in the region could be traced back to an early decision by European Union ministers not to punish Germany and France when they flouted fiscal rules.
Elsewhere, official data confirmed that the French economy grew by 0.2% in the last three months of 2011, in line with preliminary estimates. The euro zone economy contracted by 0.3% in the fourth quarter.
The euro was also higher against the pound but slipped lower against the yen, with EUR/GBP rising 0.44% to hit 0.8384 and EUR/JPY shedding 0.28% to hit 110.43.
Later in the day, Germany was to release preliminary data on consumer price inflation, while the U.S. was to produce official data on durable goods orders.
EUR/USD hit 1.3359 during late Asian trade, the session high; the pair subsequently consolidated at 1.3356, gaining 0.32%.
The pair was likely to find support at 1.3312, the session low and resistance at 1.3384, Tuesday’s high and a one-month high.
The euro found support after Italian Prime Minister Mario Monti said the debt crisis in the euro zone was “almost over.”
Speaking in Tokyo earlier, Monti also said that the root cause of the crisis in the region could be traced back to an early decision by European Union ministers not to punish Germany and France when they flouted fiscal rules.
Elsewhere, official data confirmed that the French economy grew by 0.2% in the last three months of 2011, in line with preliminary estimates. The euro zone economy contracted by 0.3% in the fourth quarter.
The euro was also higher against the pound but slipped lower against the yen, with EUR/GBP rising 0.44% to hit 0.8384 and EUR/JPY shedding 0.28% to hit 110.43.
Later in the day, Germany was to release preliminary data on consumer price inflation, while the U.S. was to produce official data on durable goods orders.