Investing.com - The euro rose to one-week highs against the U.S. dollar on Friday, boosted by upbeat fourth-quarter German economic growth data and as markets awaited a similar report for the entire euro zone.
EUR/USD hit 1.1440 during late Asian trade, the pair's highest since February 6; the pair subsequently consolidated at 1.1425, rising 0.20%.
The pair was likely to find support at 1.1277, the low of February 11 and resistance at 1.1499, the high of February 5.
Preliminary data earlier showed that German gross domestic product rose 0.7% in the last quarter, beating expectations for a 0.3% increase and up from a growth rate of 0.1% in the three months to September.
A separate report showed that France's GDP rose 0.1% in the fourth quarter of 2014, in line with expectations, after the economy grew 0.4% in the previous quarter.
The euro had come under pressure after talks between Greece and European Union officials ended without an agreement on Wednesday, though both sides said there was still hope for a deal. Further talks are due to be held next Monday.
Greece’s current bailout is due to expire on February 28 and the new Greek government does not want it extended, fuelling fears over a conflict with its creditors which could trigger the country’s exit from the euro zone.
Meanwhile, sentiment on the dollar remained vulnerable after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending February 7 increased by 25,000 to 304,000, compared to expectations for a 6,000 rise to 285,000.
Data also showed that U.S. retail sales declined by 0.8% last month, worse than expectations for a drop of 0.5%, while core retail sales, which exclude automobile sales, slumped 0.9% in December.
The euro was steady against the pound, with EUR/GBP at 0.7417.
Later in the day, the euro zone was to release preliminary data on economic growth, while the U.S. was to produce preliminary data on consumer sentiment.