On Thursday trade the euro remained higher versus US dollar, as the greenback still experienced weakness against it major peers, which was the the case from yesterday also, when Japanese yen expanded its positions and put pressure on US dollar.
Asian trade showed EUR/USD hit 1.2986, highest value since May 24th, after which the cross consolidated at 1.2970. Support was likely to be found at todays session low, 1.2933, while resistance was expected at the psychological 1.3000 level.
US dollar fell sharply to 3-week lows versus Japanese yen on Thursday, as Nikkei 225 in Japan declined significantly and urged investors to boost demand for yen as safe haven.
Markets awaited the revised data, concerning US Gross Domestic Product, Personal Consumption Expenditures Price Index and Initial Jobless Claims, which were to be released later today. Speculations still existed whether FED would be close to scaling back its easing program.
Another speculation, which caught investors attention, was whether the European Central Bank will implement negative interest rates on deposits, after recent statements made by senior official from the bank.
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