Euro holds gains for second day as dollar declines

Euro kept rising on Thursday for the second day in a row as the dollar fell against a basket of currencies, buoying the common currency from a six-week low hit yesterday.
 
EUR/USD last traded at 1.0585, up from the opening of 1.0550, with a session-high at 1.0595, and a low at 1.0536.
 
Euro's current rise comes as the dollar falls against a basket of rivals following the bearish Fed's minutes released yesterday, as policymakers prefer to wait for more inflation and employment data before making a new decision, slashing the chances of a Fed rate hike in March.
 
Euro's recovery comes after setting a six-week low yesterday, opening the door for short-covering after recent tumbles.
 
Negative pressures remain on the euro due to political tensions in the Eurozone, as the Far right National Front candidate Marie Le Pen competes strongly in the French presidential elections, promising to take France out of the Eurozone.