Euro gains ground versus dollar after growth data

Euro tilted higher against the dollar in American trade, after a host of data from the euro zone and the US, while Federal Reserve Chair Janet Yellen is testifying  on the US economic outlook before the Joint Economic Committee of Congress, in Washington DC.

As of 05:44 GMT, EUR/USD rose 0.14% to 1.1857 from the opening of 1.1840, with an intraday high at 1.1883, and a one-week trough at 1.1818. 

Earlier German data showed consumer prices rose 0.3% in line with expectations, while French consumer confidence fell 1.9% in October. 

France's GDP grew 0.5% as expected in the third quarter, while European Central Bank Vice President Vítor Constâncio said in earlier remarks that the ECB gives a priority to stabilize prices, while expressing his support for gradual tightening of monetary policy. 

Otherwise, earlier US data showed the GDP grew 3.3% in the third quarter of 2017 according to the second growth reading in line with expectations, and above the first reading of 3.0%, while the economy grew 3.1% in the second quarter, as GDP prices slowed down to 2.1% from 2.2%

Federal Reserve Bank of New York President William Dudley participated in a panel discussion about current economic issues at Rutgers University, in New Jersey, while other US data showed pending home sales rose 3.5% in October past expectations of a 1.1% rise, and compared to a 0.4% dip in September.