Investing.com - The euro edged up against the U.S. dollar on Thursday, to trade near a one-week high as sentiment on the greenback mildly weakened ahead of the Federal Reserve's highly anticipated policy statement due later in the trading session.
EUR/USD hit 1.2755 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.2749, adding 0.11%.
The pair was likely to find support at 1.2664, the low of October 27 and resistance at 1.2840, the high of October 21.
The Fed was widely expected to announce the conclusion of its asset purchasing stimulus program, known as quantitative easing, at the conclusion of its two day policy meeting later Wednesday.
However, the U.S. central bank was also expected to reassure markets that interest rates will remain on hold for some time to come amid concerns that slowing growth in Europe and China may act as a drag on the U.S. economy.
The greenback was hit on Tuesday after a report showed that U.S. orders for long lasting manufactured goods were unexpectedly lower for the second successive month in September.
But the U.S. dollar trimmed losses after another report showed that U.S. consumer confidence jumped to the highest level in seven years this month.
The euro was fractionally higher against the pound, with EUR/GBP easing up 0.09% to 0.7902.