The euro edged slightly higher against the U.S. dollar on Friday, as a string of upbeat U.S. data supported risk sentiment, although growing expectations for the Federal Reserve to soon begin tapering its stimulus program lent support to the greenback.
EUR/USD hit 1.3694 during U.S. morning trade, the pair''s highest since October 31; the pair subsequently consolidated at 1.3677, inching up 0.08%.
The pair was likely to find support at 1.3576, the low of October 31 and resistance at 1.3738, the low of October 31.
In a preliminary report, the University of Michigan said its consumer sentiment index increased to 82.5 in December, from a reading of 75.1 the previous month, compared to expectations for a rise to 76.0.
The data came after the Department of Labor said the U.S. economy added 203,000 jobs in November, exceeding expectations for a 180,000 increase, after a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
Earlier Friday, official data showed that German factory orders fell 2.2% in October, more than the expected 0.6% slip, after a downwardly revised 3.1% increase the previous month.
The euro was little changed against the pound with EUR/GBP inching down 0.05%, to 0.8362.
Also Friday, industry data showed that house price inflation in the U.K. rose 1.1% in November, beating expectations for a 0.6% increase, after an upwardly revised 1.3% rise the previous month.
Please LIKE our Facebook page - it makes us stronger: