Investing.com

Investing.com - The dollar was steady against the euro and the yen on Wednesday, with the major currencies sticking to recent ranges in subdued trade.



EUR/USD was trading at 1.3611, remaining inside the month''s range of 1.3503 to 1.3678.



The pair was likely to find support at 1.3573 and resistance at 1.3642.



The outlook for the U.S. recovery was boosted on Tuesday after data showed that consumer confidence and new homes sales both rose to six year highs.



The CB consumer confidence index jumped to 85.2 in June from 83.0 last month. It was the highest reading since January 2008.



Another report showed that the number of new home sales also rose to a six-year high, surging 18.6% in May to an annual rate of 504,000. It was the highest level since May 2008 and the largest monthly increase since January 1992.



In the euro zone, data on Tuesday showed that German business confidence deteriorated this month, amid concerns about the impact of crises in Iraq and Ukraine.



USD/JPY was at 101.90, well within the month’s range of 101.59 to 102.78.



Investors were looking ahead to data on Japanese consumer prices on Friday. Indications that the country is pulling out of a deflationary cycle would be likely to curtail expectations for further easing by the Bank of Japan.



Elsewhere Wednesday, EUR/JPY was at 138.73, holding above the four month low of 137.69 set earlier this month.





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