Euro inches up from ten-week hole

Euro inched up today against the dollar after plumbing a ten-week trough, amid light trading that helped the common currency stage a modest recovery. 

EUR/USD last traded at 1.1142, compared to the opening of 1.1105, with an intraday high at 1.1145, and a ten-week low at 1.1095. 

Euros small gains come amid light trading in the markets due to holidays, as the common currency tries to recover some of its losses versus the dollar, after hitting ten-week lows. 

Analysts expect a U.S. rate hike soon, as Fed official hint at such a hike while better economic data indicate the economy would withstand higher borrowing rates, which underpins the dollar. 

The dollar index, which gauges the greenback's performance against a basket of six major rivals, last traded at 95.71, down from the opening of 95.83, with a session-low at 95.66, and an eight-week peak at 95.96, after the index registered its fourth consecutive weekly profit.