Investing.com - The euro climbed to an almost one-year high against the U.S. dollar on Friday, as Thursday's upbeat data from the U.S. and the euro zone continued to support demand for the single currency.
EUR/USD hit 1.3419 during late Asian trade, the pair's highest since February 29, 2012; the pair subsequently consolidated at 1.3413, rising 0.27%.
The pair was likely to find support at 1.3484, the high of February 29 and resistance at 1.3351, the session low.
Sentiment remained supported after the U.S. Department of Labor said the number of people who filed for unemployment assistance last week fell to the lowest level since January 2008.
The number of individuals filing for initial jobless benefits fell by 5,000 to a seasonally adjusted 330,000, compared to expectations for an increase of 20,000 to 355,000. Jobless claims for the preceding week stood at 335,000 people.
Separately, data showed that Germany’s manufacturing purchasing managers’ index rose to 48.8 in January from 46.0 in December, still below the 50 level that separates contraction from expansion, while the euro zone manufacturing PMI rose to a 10-month high of 47.5 in January from a final reading of 46.1 in December.
The euro was also higher against the pound and the yen, with EUR/GBP adding 0.26%, to hit 0.8494, and EUR/JPY climbing 0.41%, to hit 121.36.
The yen remained under broad selling pressure after Bank of Japan Governor Masaaki Shirakawa reaffirmed on Friday the bank's commitment to maintain powerful monetary easing.
EUR/USD hit 1.3419 during late Asian trade, the pair's highest since February 29, 2012; the pair subsequently consolidated at 1.3413, rising 0.27%.
The pair was likely to find support at 1.3484, the high of February 29 and resistance at 1.3351, the session low.
Sentiment remained supported after the U.S. Department of Labor said the number of people who filed for unemployment assistance last week fell to the lowest level since January 2008.
The number of individuals filing for initial jobless benefits fell by 5,000 to a seasonally adjusted 330,000, compared to expectations for an increase of 20,000 to 355,000. Jobless claims for the preceding week stood at 335,000 people.
Separately, data showed that Germany’s manufacturing purchasing managers’ index rose to 48.8 in January from 46.0 in December, still below the 50 level that separates contraction from expansion, while the euro zone manufacturing PMI rose to a 10-month high of 47.5 in January from a final reading of 46.1 in December.
The euro was also higher against the pound and the yen, with EUR/GBP adding 0.26%, to hit 0.8494, and EUR/JPY climbing 0.41%, to hit 121.36.
The yen remained under broad selling pressure after Bank of Japan Governor Masaaki Shirakawa reaffirmed on Friday the bank's commitment to maintain powerful monetary easing.