The shared currency of the European Union advanced from its lowest rate since early December 2013 against the world's reserve currency as signs demonstrate the regional economy is growing stronger, according to Bloomberg.
The European Central Bank is unlikely to boost stimulus measures when its policy makers meet on Thursday. The euro rose against all but three of its 16 major counterparts as economic data noted confidence rose to its highest rate since July 2011.
"We view anything from the BoE as highly unlikely," foreign exchange strategist Tom Levinson with ING in London told Reuters on Thursday. "Assuming such an outcome, GBP might track higher, with EUR/GBP testing 0.8230/35 support."
The common currency surged roughly 0.3 percent against the greenback after touching its lowest value since early last month during the Wednesday trade session. But the 17-nation monetary unit climbed about 0.5 percent against the Japanese yen on Thursday.
The 17-nation currency dipped to its lowest value in about one year against the English pound, according to Reuters. Preoccupations about the European outlook proved to be detrimental to the euro against the pound on Thursday.
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