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The euro edged higher against the dollar

The euro edged higher against the dollar on Wednesday due to some short-covering following the euro's fall to a six-month low the previous day.
Some stop-loss buying of euro and buying by CTA funds gave a lift to the single European currency, which slid on Tuesday after data showed German business morale had fallen to a three-year low.
The data was the latest sign that weakness in the U.S. economy had spilled over into other major economies, and underscored market expectations for the European Central Bank to eventually lower interest rates.
The euro rose around 0.5 % to USD 1.4730, pulling away from a six-month low of USD 1.4570 hit on trading platform EBS on Tuesday.
The dollar dipped broadly, with sterling rising around 0.4 % to USD 1.8445, pulling up from a two-year low of USD 1.8330 hit on Tuesday.