Investing.com – The euro climbed against the U.S. dollar on Wednesday, in the wake of better-than-expected reports on euro zone inflation and German unemployment.
EUR/USD hit 1.3473 during European morning trade; it subsequently consolidated around 1.3465, gaining 0.38%.
The pair was likely to find resistance at 1.3818, the high of March 17, and support at 1.3267, last Thursday's low and a 10-month low.
Earlier in the day, The European Union's statistics agency said its estimate for euro zone inflation climbed to 1.5% in March, higher than forecast. Also Wednesday, official data showed that Germany's unemployment rate dropped unexpectedly to 8% in February.
The single European currency advanced to a 2-month high versus the yen, meanwhile, with EUR/JPY shooting up 1.01% to reach 125.69.
Also Wednesday, the data processing firm ADP was set to publish a key report on U.S. nonfarm employment change, which comes ahead of the U.S. Labor Department's monthly employment report Friday.
EUR/USD hit 1.3473 during European morning trade; it subsequently consolidated around 1.3465, gaining 0.38%.
The pair was likely to find resistance at 1.3818, the high of March 17, and support at 1.3267, last Thursday's low and a 10-month low.
Earlier in the day, The European Union's statistics agency said its estimate for euro zone inflation climbed to 1.5% in March, higher than forecast. Also Wednesday, official data showed that Germany's unemployment rate dropped unexpectedly to 8% in February.
The single European currency advanced to a 2-month high versus the yen, meanwhile, with EUR/JPY shooting up 1.01% to reach 125.69.
Also Wednesday, the data processing firm ADP was set to publish a key report on U.S. nonfarm employment change, which comes ahead of the U.S. Labor Department's monthly employment report Friday.