Euro rebounds from one-week low

Euro rose on Wednesday after two sessions of decline, as the dollar stops rising against a basket of currencies, underpinning the common currency, while negative pressure remain due to political tensions in the Eurozone.
 
EUR/USD last traded at 1.0703, up from the opening of 1.0679, with an intraday high at 1.0715, and a low at 1.0642.
 
Euro's rise today comes on the back of dollar's wavering against a basket of currencies after hitting a one-week high yesterday, with the euro rebounding on the back of the weaker dollar amid a lack of important data today.
 
Tensions grew in European markets as the French presidential elections near, with the Far Right Candidate Marie Le Pan competing strongly with a promise to hold a referendum on exiting the European Union if the country failed to mend its status.
 
Also Greece's debt problems were rekindled with regard to the line of credit the country is receiving, keeping the pressure on the common currency, specially after some Federal Reserve members said the U.S. economy is ready for three more rate hikes this year.