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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.

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U.S. equities
Most U.S. stocks advanced as a rally in energy shares overshadowed concern the Federal Reserve will raise borrowing costs to slow inflation.
Anadarko Petroleum Corp. jumped 6.3 % and led gains in 32 of 39 energy producers in the Standard & Poor's 500 Index as crude climbed more than USD 1 a barrel.

USD at six month high
The dollar rose to a six-month high of 1.4570 against the euro on speculation the greenback will be the main beneficiary of a global economic slowdown as German business confidence dropped in August more than forecast.
The minutes from the latest FOMC meeting showed that the Federal Reserve policy makers agreed this month that their next change in interest rates will be to raise them, while reaching no conclusion on the timing of such a decision.