Investing.com - The euro was steady close to two-week highs against the dollar on Wednesday as concerns over the risk of military intervention against Syria diminished, supporting investor demand for riskier assets.
EUR/USD hit 1.3231 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3258, dipping 0.06%.
The pair was likely to find support at 1.3200 and near-term resistance at 1.3281, the session high.
Investor confidence was boosted after President Barack Obama agreed Tuesday to explore a plan proposed by Russia for Syria to place its chemical weapons under international control in order to avoid a U.S. military intervention.
A recent string of upbeat economic data from China indicating that the economy is recovering from a slowdown also underpinned risk appetite.
Elsewhere, the single currency was lower against the pound, with EUR/GBP down 0.35% to 0.8404, after falling as low as 0.8384 earlier.
Sterling strengthened broadly after the Office for National Statistics said the rate of unemployment in the U.K. ticked down to 7.7% in the three months to July from 7.8% in the previous three months.
Economists had expected the unemployment rate to remain unchanged.
The data fuelled expectations that the Bank of England may raise interest rates sooner than it has indicated.
Last month, the BoE pledged to keep interest rates on hold at current record low levels until the unemployment rate falls below 7%, something that bank does not see for another three years.
The ONS said the number of people claiming unemployment benefits fell by 32,600 in August, better than expectations for a decline of 22,000 people.
The euro was slightly lower against the yen, with EUR/JPY slipping 0.11% to 133.04.
EUR/USD hit 1.3231 during European afternoon trade, the session low; the pair subsequently consolidated at 1.3258, dipping 0.06%.
The pair was likely to find support at 1.3200 and near-term resistance at 1.3281, the session high.
Investor confidence was boosted after President Barack Obama agreed Tuesday to explore a plan proposed by Russia for Syria to place its chemical weapons under international control in order to avoid a U.S. military intervention.
A recent string of upbeat economic data from China indicating that the economy is recovering from a slowdown also underpinned risk appetite.
Elsewhere, the single currency was lower against the pound, with EUR/GBP down 0.35% to 0.8404, after falling as low as 0.8384 earlier.
Sterling strengthened broadly after the Office for National Statistics said the rate of unemployment in the U.K. ticked down to 7.7% in the three months to July from 7.8% in the previous three months.
Economists had expected the unemployment rate to remain unchanged.
The data fuelled expectations that the Bank of England may raise interest rates sooner than it has indicated.
Last month, the BoE pledged to keep interest rates on hold at current record low levels until the unemployment rate falls below 7%, something that bank does not see for another three years.
The ONS said the number of people claiming unemployment benefits fell by 32,600 in August, better than expectations for a decline of 22,000 people.
The euro was slightly lower against the yen, with EUR/JPY slipping 0.11% to 133.04.