Investing.com - The euro edged up against the U.S. dollar on Friday, to trade near two-week highs despite the release of disappointing German producer price inflation data, as the Federal Reserve's latest policy statement continued to dampen demand for the greenback.
EUR/USD hit 1.3643 during late Asian trade, the session high; the pair subsequently consolidated at 1.3624, adding 0.12%.
The pair was likely to find support at 1.3542, the low of June 18 and resistance at 1.3668, the high of June 9.
Official data earlier showed that German producer price inflation fell 0.2% last month, compared to expectations for a 0.2% rise, after a 0.1% downtick in April.
Meanwhile, the dollar remained under pressure after the Fed gave no indication of when interest rates could start to rise at the conclusion of its two-day meeting on Wednesday. In addition, the Fed’s forecast of where interest rates might reach in the long term fell from 4% to 3.75%.
The central bank cut its bond purchases by $10 billion a month, to $35 billion, saying there was "sufficient underlying strength" in the U.S. economy to continue tapering.
The greenback shrugged off data on Thursday showing that U.S. jobless claims fell more than expected last week, as well as a separate report showing that manufacturing activity in the Philadelphia area expanded at the fastest rate in eight months in June.
The euro was fractionally higher against the pound, with EUR/GBP edging up 0.09% to 0.7992.