FXstreet.com (Jakarta) - The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4945 level and was supported around the $1.4835 level. The common currency continued its ascent towards the psychologically-important US$ 1.50 figure with the U.S. dollar unable to gain traction from positive or negative news.
U.S. equities markets notched impressive gains with the Dow Jones closing above the psychologically-imporant 10,000 level for the first time since October 2008. Minutes from the Federal Open Market Committee's September interest rate deliberations also contributed to the U.S. dollar's sell-off as a wide range of opinions from policymakers were published. The minutes reported the cost of the economy turning out to be weaker than anticipated could be relatively high.
In eurozone news, August output was up 0.9% m/m and off 15.4% y/y. European Central Bank policymaker Bini Smaghi reported the central bank may lift interest rates before the business cycle reaches its peak. Data released in the eurozone overnight saw August industrial production up 0.9% m/m and decline 15.4% y/y. Euro bids are cited around the US$ 1.4445 level, said GCI Financial Team.