Investing.com – The euro edged higher against the U.S. dollar on Thursday, rising to hit a fresh daily high, after Greece’s Finance Minister out ruled the possibility of a Greek sovereign debt default.
EUR/USD hit 1.3034 during early European trade, a daily high; the pair subsequently consolidated at 1.3023, gaining 0.10%.
The pair is likely to find support at 1.2828, the low of September 14, and resistance at 1.3185, the high of August 11.
On Wednesday, Greece’s Finance Minister George Papaconstantinou ruled out the possibilty that the country would default on its soverign debt, saying “it would be a fundemental break to the unity of the euro zone”.
He added that the Greece’s government has reduced its budget deficit by just just over half the EUR 12 billion target set for this year, putting it ahead of schedule.
The euro was also up against the pound, with EUR/GBP gaining 0.15% to hit 0.8341.
Later in the day, the euro zone was to produce official data on its trade balance.
EUR/USD hit 1.3034 during early European trade, a daily high; the pair subsequently consolidated at 1.3023, gaining 0.10%.
The pair is likely to find support at 1.2828, the low of September 14, and resistance at 1.3185, the high of August 11.
On Wednesday, Greece’s Finance Minister George Papaconstantinou ruled out the possibilty that the country would default on its soverign debt, saying “it would be a fundemental break to the unity of the euro zone”.
He added that the Greece’s government has reduced its budget deficit by just just over half the EUR 12 billion target set for this year, putting it ahead of schedule.
The euro was also up against the pound, with EUR/GBP gaining 0.15% to hit 0.8341.
Later in the day, the euro zone was to produce official data on its trade balance.