Investing.com – The euro rose to a fresh 8-month high against the U.S. dollar on Thursday, after the European Central Bank left its interest rate unchanged at a record low for the seventeenth consecutive month.
EUR/USD hit 1.3997 during European afternoon trade, the pair’s highest since February 3; the pair subsequently consolidated at 1.3971, gaining 0.30%.
The pair was likely to find support at 1.3798, Wednesday’s low and short-term resistance at 1.4178, the high of January 26.
The bank said it was maintaining the benchmark interest rate at 1.0%, in a widely expected move. Unlike most other major central banks, the ECB has suggested that it is keen to start exiting its loose monetary stance despite continued concerns about euro zone growth and the health of European banks.
ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.36% to hit 0.8736.
Later Thursday, the U.S. was to release key weekly data on initial jobless claims.
EUR/USD hit 1.3997 during European afternoon trade, the pair’s highest since February 3; the pair subsequently consolidated at 1.3971, gaining 0.30%.
The pair was likely to find support at 1.3798, Wednesday’s low and short-term resistance at 1.4178, the high of January 26.
The bank said it was maintaining the benchmark interest rate at 1.0%, in a widely expected move. Unlike most other major central banks, the ECB has suggested that it is keen to start exiting its loose monetary stance despite continued concerns about euro zone growth and the health of European banks.
ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.36% to hit 0.8736.
Later Thursday, the U.S. was to release key weekly data on initial jobless claims.