The euro rose against other major currencies during Thursday's early trading ahead of the European Central Bank's decision on interest rates.
The ECB is due to announce its decision later Thursday. The ECB Governing Council is expected to leave its key interest rate, which is the interest rate on main refinancing operations, at 1%.
Receive $25 free with a Forex Micro account
Interest rates on marginal lending facility and deposit facility are expected to be held at their current levels of 1.75% and 0.25%, respectively.
The European currency climbed to a 9-day high of 132.90 against the Japanese yen. This may be compared with yesterday's closing value of 131.48. If the euro-yen pair moves up further, 134.03 is seen as the next target level.
The euro advanced to 1.5128 against the greenback during early deals on Thursday, which set a 1-week high for the pair. This may be compared to Wednesday's New York session closing value of 1.5045.
On the upside, the next likely target for the greenback is seen around the 1.514 level.
Against the Swiss franc, the euro edged up during Thursday's Asian trading. However, the pair slipped in early European trading, but regained momentum and is now trading at a 2-day high of 1.5086 with 1.512 seen as the next upside target level. The euro-franc pair closed yesterday's deals at 1.5076.
The euro rose to 0.9085 against the pound, which may be compared to 0.9049 hit late Wednesday in New York. The euro-pound pair may likely find resistance near the 0.915 level.
