Investing.com - The euro rose to fresh seven-month highs against the U.S. dollar on Thursday, after data showed that U.S. jobless claims rose less than expected last week, while the Federal Reserve's decision to leave its stimulus program unchanged continued to weigh on the greenback.
EUR/USD hit 1.3568 during European afternoon trade, the pair's highest since February 7; the pair subsequently consolidated at 1.3543, adding 0.16%.
The pair was likely to find support at 1.3338, Wednesday's low and resistance at 1.3596, the high of February 6.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. in the week ending September 13 rose by 15,000 to a seasonally adjusted 309,000 from an upwardly revised 294,000 the previous week.
Analysts had expected the number of people who filed for unemployment assistance to rise by 36,000 to 330,000 last week.
A separate report showed that 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 had expected the current account deficit to improve to a USD97 billion.
The data came a day after the Fed held back from reducing the USD85 billion pace of its monthly asset purchases.
Speaking after the conclusion of the Fed's two-day policy-setting meeting, Fed Chairman Ben Bernanke Bernanke said he wanted to "wait a bit longer and to try to get confirming evidence" that the economy is showing signs of lasting improvement.
Bernanke refused to commit to reducing bond purchases this year, saying the stimulus program was "not on a preset course."
Separately, the Fed cut its projection for 2013 economic growth to a 2.0% to 2.3% range from a June estimate of 2.3% to 2.6%.
The euro was also higher against the pound with EUR/GBP climbing 0.57%, to hit 0.8424.
Later in the day, the U.S. was to release the Philly Fed manufacturing index as well as data on existing home sales.
EUR/USD hit 1.3568 during European afternoon trade, the pair's highest since February 7; the pair subsequently consolidated at 1.3543, adding 0.16%.
The pair was likely to find support at 1.3338, Wednesday's low and resistance at 1.3596, the high of February 6.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. in the week ending September 13 rose by 15,000 to a seasonally adjusted 309,000 from an upwardly revised 294,000 the previous week.
Analysts had expected the number of people who filed for unemployment assistance to rise by 36,000 to 330,000 last week.
A separate report showed that 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 had expected the current account deficit to improve to a USD97 billion.
The data came a day after the Fed held back from reducing the USD85 billion pace of its monthly asset purchases.
Speaking after the conclusion of the Fed's two-day policy-setting meeting, Fed Chairman Ben Bernanke Bernanke said he wanted to "wait a bit longer and to try to get confirming evidence" that the economy is showing signs of lasting improvement.
Bernanke refused to commit to reducing bond purchases this year, saying the stimulus program was "not on a preset course."
Separately, the Fed cut its projection for 2013 economic growth to a 2.0% to 2.3% range from a June estimate of 2.3% to 2.6%.
The euro was also higher against the pound with EUR/GBP climbing 0.57%, to hit 0.8424.
Later in the day, the U.S. was to release the Philly Fed manufacturing index as well as data on existing home sales.