Investing.com - The euro trimmed gains against the dollar on Wednesday, easing back from one month highs after the release of upbeat U.S. data on manufacturing and consumer sentiment.
EUR/USD was up 0.09% to 1.3583 after rising as high as 1.3612 earlier, the highest since October 31.
The pair was likely to find support at 1.3530 and resistance at 1.3645.
The dollar was boosted after the University of Michigan said its index of overall consumer sentiment was revised up to 75.1 in November from a preliminary estimate of 72.0. Economists had expected the index to be revised up to 73.5.
The report was released two days in advance due to the U.S. Thanksgiving holiday on Thursday.
A separate report showed that manufacturing activity in the Chicago-area expanded at a faster rate than expected in November.
Earlier Wednesday, the Department of Labor said the number of individuals filing for initial jobless benefits last week declined by 10,000 to a two month low of 316,000. Economists had forecast an increase of 4,000.
The jobs data was released one day early due to the U.S. holiday.
The upbeat data offset a report showing that U.S. durable goods orders fell 2% in October, worse than expectations for a 1.9% decline, while core durable goods orders were down 0.1%, compared to expectations for a 0.5% increase.
The data did little to alter expectations that the Federal Reserve will start to taper stimulus at one of its next few meetings.
The euro rose to session highs against the dollar earlier after data showed that the forward looking Gfk index of German consumer climate rose to a six year high of 7.4 for December from 7.1 in November. Economists had expected an unchanged reading.
The euro received an additional boost after German Chancellor Angela Merkel reached a deal to form a coalition government with the Social Democrats on Wednesday, following weeks of negotiations.
EUR/JPY was up 0.90% to 138.68, the highest level since October 2009 from 137.45 on Tuesday.
The yen remained broadly weaker amid heightened expectations that the Bank of Japan will implement more easing measures next year.
Elsewhere, the dollar rose to six-month highs against the yen, with USD/JPY jumping 0.80% to 102.08, the highest since May 29.
EUR/USD was up 0.09% to 1.3583 after rising as high as 1.3612 earlier, the highest since October 31.
The pair was likely to find support at 1.3530 and resistance at 1.3645.
The dollar was boosted after the University of Michigan said its index of overall consumer sentiment was revised up to 75.1 in November from a preliminary estimate of 72.0. Economists had expected the index to be revised up to 73.5.
The report was released two days in advance due to the U.S. Thanksgiving holiday on Thursday.
A separate report showed that manufacturing activity in the Chicago-area expanded at a faster rate than expected in November.
Earlier Wednesday, the Department of Labor said the number of individuals filing for initial jobless benefits last week declined by 10,000 to a two month low of 316,000. Economists had forecast an increase of 4,000.
The jobs data was released one day early due to the U.S. holiday.
The upbeat data offset a report showing that U.S. durable goods orders fell 2% in October, worse than expectations for a 1.9% decline, while core durable goods orders were down 0.1%, compared to expectations for a 0.5% increase.
The data did little to alter expectations that the Federal Reserve will start to taper stimulus at one of its next few meetings.
The euro rose to session highs against the dollar earlier after data showed that the forward looking Gfk index of German consumer climate rose to a six year high of 7.4 for December from 7.1 in November. Economists had expected an unchanged reading.
The euro received an additional boost after German Chancellor Angela Merkel reached a deal to form a coalition government with the Social Democrats on Wednesday, following weeks of negotiations.
EUR/JPY was up 0.90% to 138.68, the highest level since October 2009 from 137.45 on Tuesday.
The yen remained broadly weaker amid heightened expectations that the Bank of Japan will implement more easing measures next year.
Elsewhere, the dollar rose to six-month highs against the yen, with USD/JPY jumping 0.80% to 102.08, the highest since May 29.