The euro traded almost unchanged against the dollar in quiet trading Wednesday as investors trimmed their expectations about the timing of raising US interest rates, while concerns about the extension of the Greek rescue deal conditions continued, keeping investors in a state of caution.
It has traded euro / dollar to hit 1.1352, less than the highest price recorded in the session's 1.1388.
The dollar fell broadly after the Chairwoman of the Federal Reserve Janet Yellen that it was "unlikely" that justifies the economic conditions prevailing interest rate increases, at least for the next few meetings of the Federal Reserve Board.
In prepared remarks during testimony before the Banking Committee in the Senate, Speaker of the Federal Reserve Janet Yellen said, "said it is unlikely" that justifies the economic conditions prevailing interest rate increases, at least for the next few meetings of the Federal Reserve Board.
She added that if the economy continues to improve as expected the Fed would be amended directives to raise interest rates, but stressed that the use of the term amendment does not necessarily mean that the rate hike would happen automatically within a number of meetings.
The dollar did not show little reaction after the Wednesday data showed that US new home sales fell less than expected by 0.2% in January to a seasonally adjusted annual rate by 481, thousand units, the December sales revision to reach to 482, thousand units, the highest level since June 2008, from 481, thousand units.
The single currency also continued under selling pressure amid doubts about the agreement on the extension of the Greek bailout plan for four months, which kept investors cautious.
He warned all of the International Monetary Fund and the European Central Bank on Tuesday that reform plans in Greece is not detailed enough, and said Athens will need to make more effort to secure the extension of the rescue deal.
And circulation of euro / yen to trade at 134.9, almost unchanged for the day, while the EUR / USD to hit 118.82.
The dollar index, which measures the strength of the dollar against a basket of six major currencies, was up 0.22% to hit 94.32.