Investing.com - The euro remained moderately lower against the U.S. dollar on Thursday, after upbeat U.S. third quarter growth data mildly lifted market sentiment, as the Federal Reserve's most recent policy statement continued to support the greenback.
EUR/USD hit 1.2548 during U.S. morning trade, the pair's lowest since October 6; the pair subsequently consolidated at 1.2617, down 0.13%.
The pair was likely to find support at 1.2502, the low of October 6 and resistance at 1.2772, Wednesday's high.
Market sentiment found some support after the Commerce Department reported that U.S. gross domestic product grew at an annual rate of 3.5% in the three months to September, beating forecast for 3%.
A separate report showed that the number of Americans filing new claims for jobless benefits rose for a second week last week, but levels still pointed to a recovery in the labor market.
The Labor Department said initial jobless claims rose 3,000 to a seasonally adjusted 287,000.
The dollar had strengthened broadly earlier, after the Fed on Wednesday ended its quantitative easing stimulus program, saying it was confident the U.S. economic recovery would continue.
The Fed also reassured markets that interest rates would remain on hold for a "considerable time".
In the euro zone, official data showed that German consumer price inflation accelerated at an annualized rate of 0.8% this month, unchanged from September and compared to forecasts for a reading of 0.9%.
The report came after official data showed that the number of people unemployed in Germany fell by 22,000 this month, compared to expectations for a gain of 5,000.
The country’s unemployment rate was unchanged at 6.7%.
In addition, data showed that Spain’s economy grew 0.5% in the three months September, and expanded 1.6% on a year-over-year basis, both in line with forecasts.
A separate report showed that the annual rate of inflation in Spain remained below zero this month, falling 0.1% after declining 0.2% in September.
The euro was also lower against the pound, with EUR/GBP slipping 0.20% to 0.7874.