Euro edges up on dollar; yen higher
The euro edged higher against the dollar Thursday amid positive economic data for both regions, while the yen also picked up a little strength.
In Europe, the Ifo economic institute's closely watched business climate index for Germany, the continent's strongest economy, rebounded despite worries over the Crimea crisis.
The Ifo index rose to 111.2 points in April against 110.7 the month before, beating market expectations.
In the United States, a second strong month of durable goods orders in March gave more evidence that the economy is rebounding from its winter slump.
Durable goods orders rose by 2.6 percent to $234.8 billion, after a 2.2 percent rise in February, the Commerce Department said.
Both bits of data support unchanged courses at the respective central banks, though some analysts are still guessing that the European Central Bank could move towards more easing to fight off deflation pressures.
Even so, that view has not benefited the dollar as it might have been expected to.
"While the US dollar was beginning to benefit from signs of improved economic data, there is now evidence just over the course of a few short days that US momentum is fading while that in Europe is gaining," said Christopher Vecchio, currency analyst at DailyFX.
