Euro steady against the dollar ahead of Fed minutes

The euro was almost unchanged against the dollar on Wednesday ahead of the minutes of the Federal Reserve’s (Fed) latest meeting and its decisions later in the day.

The euro gained ground on Tuesday after the strong German ZEW economic sentiment index bolstered the outlook for the euro zone’s largest economy, pushing it to its highest level in four months in November.

Markets are currently expecting the U.S. central bank to start raising rates sooner than expected, in light of the continued improvement in performance of the US economy, which will reflect positively on the performance of the dollar against other major currencies.

The EUR/USD pair rose 0.4% today around 1.2537 at 12:09 GMT, compared to the opening levels 1.2532.