Euro attempts to rise after Merkel secures her party's presidency

Euro rose modestly on Wednesday after falling yesterday, and following German Chancellor Angela Merkel's success in securing her party's presidency, restoring confidence in the common currency,
 
EUR/USD last traded at 1.0755, up from the opening of 1.0720, with an intraday high at 1.0771, and a low at 1.0713.
 
Euro's rise comes amid optimism in Europe after Merkel won the backing of her party's majority, which restored confidence in the euro and buoyed it higher.
 
Euro's rise was weak however due to thin trading in the markets as the holiday season nears, with lots of investors taking a break.
 
On the other hand, the dollar steadied lower today against major currencies, underpinning the common currency according to their inverse relation.