Investing.com - The euro firmed against the dollar on Friday after markets digested mixed U.S. wholesale price and consumer sentiment data, which prompted investors to sell the greenback for profits.
In U.S. trading, EUR/USD was up 0.49% at 1.2468, up from a session low of 1.2362 and off a high of 1.2495.
The pair was likely to find support at 1.2245, Monday's low, and resistance at 1.2496, Thursday's high.
The dollar has rallied against the euro and other currencies in recent months on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.
On Friday, mixed U.S. data allowed for profit taking.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to a nearly eight-year high of 93.8 this month from 88.8 in November. Analysts had expected the index to rise to 89.7 in December.
The data came after the U.S. Department of Labor reported that the U.S. producer price index fell 0.2% last month, surpassing expectations for a 0.1% downtick, after rising 0.2% in October.
Core producer price inflation, which excludes food, energy and trade, was flat in November, confounding expectations for a 0.1% rise, after an increase of 0.4% the previous month.
Meanwhile in Europe, the single currency found support after data showed that industrial production in the euro zone rose 0.1% in October, in line with expectations, after a 0.5% increase in September, whose figure was revised from a previously estimated 0.6% gain.
Year-on-year, the bloc's industrial production increased 0.7% in October, beating expectations for a 0.5% rise, after a revised 0.2% uptick in September.
Elsewhere, the euro was up against the pound, with EUR/GBP up 0.52% at 0.7929, and up against the yen, with EUR/JPY up 0.30% at 147.72.