The euro rallied broadly against most of it major currency pairs on Wednesday as U.S. stocks rose, though gains were likely temporary given doubts about the ability of euro zone members to tap bond markets.
The 17-nation common currency extended gains against the U.S. dollar and closed around 1.3600. The EUR experienced similar behavior against the GBP as the pair rose from 0.8355 to 0.8436 by day's end.
The EUR was affected by a U.S. 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 yesterday's trading.
Turning to today, traders will want to pay particular attention to inflationary and manufacturing data out of the United States. Should these figures indicate further improvements in the U.S. economy, the euro could maintain its current course, and could even push towards the 1.3700 resistance level against the greenback.