Euro relinquishes this week's gains and returns lower

Euro fell on Wednesday to a one-week low, relinquishing the gains of this week, as the dollar rose against main currencies, while stocks rebounded.
 
EUR/USD last traded at 1.0463, down from the opening of 1.0554, with an intraday high at 1.0569, and a low at 1.0454.
 
Euro's recovery comes after failing to sustain its rise yesterday, ending lower and deepening the losses today as the greenback rose against main currencies, pressuring the common currency further.
 
Dollar's rise came amid optimism in the markets ahead of U.S. President-elect Trump's speech, expected to showcase his new stimulus plans to jumpstart the economy and help corporations, which underpinned the dollar and hurt the euro.
 
On the other hand, U.S. stocks rose today as investors expect Trump to mention his tax cuts plans, which would buoy stocks and hurt main currencies as investors head to Wall Street away from the euro and other currencies.