The euro climbed against majors ahead of the ECB rate decision on speculations the policy makers will intervene to stop the contagion from spreading across the region and calming down volatility in markets.
The ECB, however, is expected to keep interest rate unchanged at 1.00% in December while leaving stimulus unchanged to continue its support to banks that are facing fiscal difficulties.
Another thing that gave a boost to the euro is the successful bond selling by Spain which took place today where demand for the Spanish bonds was 2.27 times the amount sold.
Moreover, data released today from the euro zone showed that third-quarter GDP preliminary reading reached 0.4% on the quarter and 1.9% on the yearly base, where the decline from the second quarter expansion was triggered by the decrease in exports.
On the other hand, the dollar is still unable to continue its advance against majors despite the upbeat US data released yesterday and before the release of jobless claims and pending home sales later in the day and the awaited non-farm payrolls report tomorrow.
The dollar index, which tracks the dollar movements versus six major currencies, slipped to a low of 80.35 compared with the day's opening at 80.68 while the highest point was touched at 80.89.
Concerning the euro-dollar pair, it rebounded for the second day as the euro halts its losses that reached 6.9% against the greenback in November after getting support at 1.3120.
Meanwhile, the pair is trading at 1.3183 after recording a high of 1.3216 and a low of 1.3086, while the trading range for today is among the key support at 1.5425 and the key resistance at 1.5800.
Moving to the royal pair, it is showing slight decline on the daily basis after a new WikiLeak had shown that King said Cameron and Osborne are not experienced and may not deal well with eh crisis, while the climb in PMI construction could not give a strong uplift to the pound.
The pair is currently trading at 1.5612 yet it may find support at 1.5580, where the day's high was recorded at 1.5666 and lowest point was at 1.5583.
The trading range for today is among the key support at 1.5300 and the key resistance at 1.5675.
With regard to the dollar-yen pair, it is showing slight decline to continue the sideway direction that started this week.
Currently, the pair is trading at 84.13, reaching a high of 84.21 a low of 83.95, while the trading range for today is among the key support at 82.80 and the key resistance at 85.95.
