Euro touches three-week low as eyes fixed on Fed, Draghi

Euro fell in American trade to the lowest since November 21 against the dollar, following an array of data from the euro zone and the US, while the Federal Open Market Committee starts its two-day policy meeting in Washington and as ECB president Draghi is due to speak later. 

As of 04:42 GMT, EUR/USD fell 0.36% to 1.1727 from the opening of 1.1769, with a three-week low at 1.1726, and a session-high at 1.1793. 

Earlier German and euro zone data showed the ZEW economic sentiment survey missing expectations, while investors look forward to ECB President Mario Draghi's speach at the 2017 European Cultural Days' Closing Concert hosted by the ECB, in Frankfurt.

Otherwise, earlier US data showed producer prices rose 0.4% in November in line with expectations and with no change from October's reading, while core prices, excluding food and fuel, rose 0.3%, beating expectations of 0.2% and just below October's 0.4% rise. 

Now markets look upon the FOMC's last 2017 meeting today and tomorrow, with policymakers expected to unveil their three-year forecasts for inflation, growth, unemployment, and interest rates, while expected to also hike rates by 25 basis points for the third time this year.