The European shared currency continued its advance against most major currencies after German Ifo business climate climbed to 109.9, the highest since 1991, in December compared with 109.3 in November and forecasts of 109.0.

Other upbeat data from the euro zone showed that trade surplus widened to 3.6 billion euros in October from the prior 2.4 billion euros.

The euro took the first boost after the end of the first-day of EU leaders meeting yesterday where they agreed to put a permanent mechanism for combating potential debt crisis starting from 2013.

In addition, the ECB mentioned yesterday that it will increase capital by 10.7 billion euros starting from December 29.

On the other hand, concerns remained persistent as Moody's Investors Services downgraded Ireland's credit rating today by five levels along with placing the outlook for the country to Negative, while it put Greece's bond rating under review for possible multi notch downgrade.

Concerning the euro-dollar pair, it advanced for the second day, yet it retreated as it approached support at 1.3367 which pushed the pair to 1.3285.

So far, the pair has recorded a high of 1.3358 and a low of 1.3232, while the trading range for today is among the key support at 1.3080 and the key resistance at 1.3520.

Moving to the royal pair, it is showing a remarkable decline on the daily charts but rebounded slightly as it found support at 1.5580 where the pair is currently hovering around.

Today, data released from UK showed that nationwide consumer confidence fell to 45 in November from 52 in October.

The pair has recorded a high of 1.5645 and a low of 1.5573, whereas the trading range for today is among the key support at 1.5385 and the key resistance at 1.5845.

With regard to the dollar-yen pair, it rebounded after getting support at 83.70 critical level today which lifted the pair to a high of 84.07 while the day's low was seen at 83.67.

Meanwhile, the pair is trading at 84.00, whereas the trading range for today is among the key support at 82.50 and the key resistance at 85.95.