The euro rallied broadly against most of it major currency pairs on Wednesday as US stocks rose. The 17-nation currency extended gains against the US dollar and closed around 1.3750. The EUR experienced similar behavior against the GBP as the pair rose from 0.8420 to 0.8490 by day's end.
The EUR was affected by a US stock market rally and a bearish dollar. Growth in stocks led investors to buy-back into the EUR, as they looked for returns on buying commodity-linked and higher-yielding currencies in Wednesday's trading.
Turning to today, traders will want to pay particular attention to the string of data emanating from the United States, beginning with the reports on last month's durable goods orders. Should tomorrow's figures indicate further improvements in the US economy, the euro could maintain its current course, and may even push towards the 1.3800 resistance level against the greenback.