Investing.com – The euro advanced to a 2-day high against the U.S. dollar on Tuesday, after a successful auction of Irish Government debt boosted eased fears over the euro zone sovereign debt crisis.
EUR/USD hit 1.3149 during European morning trade, the pair's highest since September 17; the pair subsequently consolidated at 1.3134, gaining 0.55%.
The pair was likely to find support at 1.2975, last Friday's low and short-term resistance at 1.3232, the high of August 10.
Earlier Tuesday, Ireland's National Management Treasury Agency said that it had raised EUR 1.5 billion in a fully subscribed auction of Government bonds.
However the country's borrowing costs rose amid concerns over the cost of bailing out the country's banking sector. The yield on 8-year bonds was 6.02% compared to 5.08% in June, while 4-year bonds were sold at a yield of 4.7%, compared to 3.6% in August.
The euro was also up against the pound, with EUR/GBP gaining 0.73% to hit 0.8464.
Later in the day, the U.S. was to release official data on building permits and housing starts, while the Federal Reserve was to announce its benchmark interest rate.
EUR/USD hit 1.3149 during European morning trade, the pair's highest since September 17; the pair subsequently consolidated at 1.3134, gaining 0.55%.
The pair was likely to find support at 1.2975, last Friday's low and short-term resistance at 1.3232, the high of August 10.
Earlier Tuesday, Ireland's National Management Treasury Agency said that it had raised EUR 1.5 billion in a fully subscribed auction of Government bonds.
However the country's borrowing costs rose amid concerns over the cost of bailing out the country's banking sector. The yield on 8-year bonds was 6.02% compared to 5.08% in June, while 4-year bonds were sold at a yield of 4.7%, compared to 3.6% in August.
The euro was also up against the pound, with EUR/GBP gaining 0.73% to hit 0.8464.
Later in the day, the U.S. was to release official data on building permits and housing starts, while the Federal Reserve was to announce its benchmark interest rate.