(RTTNews) - After edging down in early morning session, the European common currency spiked up sharply against major currencies in New York mid-day trading on Wednesday. The euro climbed to more than a 2-month high of 1.2779 versus the US dollar by about 11:45 am ET from early low of 1.2684.
The euro that touched a low of 112.05 at about 10:00 am ET against the Japanese yen, reversed its direction thereafter. At 11:45 am ET, the euro advanced to 113.24 versus the yen, compared to yesterday's close of 112.92. If the euro climbs further, it may find near term resistance around the 113.42 level.
The European single currency also strengthened against Swiss franc and the British pound in mid-day session. Currently, the euro is trading near 0.8351 against the pound and 1.3464 versus the franc from early lows of 0.8322 and 1.3411, respectively.
