Euro edges up for second session as eyes fixed on Fed

Euro tilted higher in American trade against the dollar following earlier data from the euro zone and the US, the world's largest economy. 

As of 04:38 GMT, EUR/USD rose 0.04% to 1.1207 from the opening of 1.1203, with an intraday high at 1.1225, and a low at 1.1185. 

Earlier data from Germany, the euro zone's largest economy, showed the ZEW Economic Sentiment survey down to 18.6 in June from 20.6 in May, missing expectations of 21.6, while the same survey for the whole region rose to 37.7 from 35.1 in May, beating forecasts of 37.2. 

Earlier US data showed producer prices unchanged in May as expected, compared to a 0.5% rise in April, while core prices slowed down to 0.3% from 0.4%, as analysts expected a 0.2% rise. 

Markets now await consumer prices data tomorrow, which might show slowing growth in inflationary pressures in the US, while retail sales are forecast to have slowed down as well last month, which in turn might influence Fed policymakers' positions at the ongoing policy meeting. 

The Fed is expected to tighten its policy and raise interest rates by 25 basis points to between 1.00% and 1.25%, while policymakers are expected to unveil their three year forecasts for inflation, unemployment, growth, and interest rates for the next three years.