Underwhelming economic data released by the euro zone on Wednesday enhanced the world's reserve currency against its rival currencies and prompted a stronger demand for the monetary unit, Bloomberg reports.
Production from manufacturing and services contracted in the 17-nation region as European Central Bank and Bank of England policy makers prepare to convene their respective meetings on Thursday.
The U.S. dollar continued rising against the Japanese yen, which one currency strategist correlated with a recently installed finance minister in the Pacific Rim nation as well as the country's intentions to purchase international bonds.
"Jawboning from the new finance minister and threats of foreign bond buying by the Japanese authorities are helping improve sentiment toward the greenback," currency strategist Jamie Coleman with Forexlive.com in Boston told Bloomberg.
The Dollar Index, a metric that measures the dollar's performance against six counterpart monetary units, gained 0.3 percent as two trading sessions of losses closed.
The U.S. dollar's climb against the Japanese yen pushed to its top value in about 14 days, according to Reuters.
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