RTTNews - The euro saw mixed movement against its major counterparts as uncertainty in global equities left traders somewhat reluctant to bet on riskier currencies. The common currency was little-changed with the dollar, higher against the sterling and lower against the yen.
The euro was stabilized versus the dollar after recent hitting a 3 1/2-week low. Greenback traders are anxiously awaiting the Federal Reserve's next move, which will come next week after the Federal Open Market Committee meeting.
On the other hand, the euro rebounded against the British pound as traders bet a recent slide to a 6 1/2 month low was overdone.
Meanwhile, report from the Eurostat showed Wednesday that the Eurozone's trade surplus in April improved from March as well as from the year-ago period.
The euro moved in a range with the dollar, trading near 1.3850 in the early afternoon. The European currency had edged away from a multi-week low of 1.3747 earlier this week.
In the U.S., Labor Department data showed that consumer prices edged up 0.1 percent in May after coming in unchanged in April. Economists had been expecting a somewhat more substantial increase in prices of about 0.3 percent.
The European currency spiked up against the pound to a five-day high of 0.8534 before easing back to 0.8500. The euro had hit a multi-month low of 0.8418 earlier in the week.
The euro fell to a two-week low of 95.52 against the yen, adding to its recent down trend. In its latest monthly report of recent economic and financial developments, the BoJ said Japan's economic conditions have begun to stop worsening after deteriorating significantly.
In the Eurozone, the trade surplus increased to EUR2.7 billion in April from a revised surplus of EUR1.8 billion in March, and a EUR2.2 billion surplus last year. For March, the trade surplus was initially reported as EUR0.4 billion. Economists expected a trade deficit of EUR1.5 billion for April.
The Eurostat also said in a report that the Eurozone construction output increased a seasonally adjusted 0.6% month-on-month in April, marking the same pace as in the previous month. The April figure was revised from 1% decline reported initially.
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