Euro rebounds after upbeat employment data, as caution lingers

Economies.com
2017-03-15 16:38PM UTC
Euro recovered on Wednesday after upbeat employment data from the euro zone, which helped the common currency advance after two daily losses, but caution remained as markets await the Federal Reserve's policy decisions later today.

EUR/USD last traded at 1.0632, up from the opening of 1.0613, with an intraday high at 1.0641, and a low at 1.0607.

The employment change index in the euro zone for the fourth quarter rose 0.3%, up from 0.2% in the previous reading, which buoyed the euro as the data signals the current European Central Bank's policies are slowly working.

Euro's climb today came after starting the week lower on dollar's strength and investors' caution from betting on the common currency ahead of the Federal Reserve's expected rate hike today.

Negative pressures remain on the euro amid concerns about elections in both Netherlands and France, as far right candidates compete strongly on anti EU platforms.

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