Euro Rises Versus Majors [EUR/USD]

Wednesday, March 05, 2008 10:59:52 AM - The euro advanced against its major counterparts on Wednesday in New York. Investors digested a report showing Euro zone retail sales rebounded slightly in January.
Euro zone retail sales rose 0.4% month-on-month in January, reversing a 0.1% fall in December. Economists were looking for 0.3% growth in January.
The euro rose against the dollar on Wednesday, moving back towards Monday's record high. The euro reached 1.5256 by 10:30 am ET, up from 1.5144 earlier in the morning.
Traders considered a report showing US service sector activity contracted less than expected in February.
Versus the pound, the euro pulled back from a record high on Wednesday. After reaching .7689 just after 4:00 am ET, the euro slipped to .7662 later in the morning.
Investors mulled a report showing UK services Purchasing Managers' Index unexpectedly improved in February.
Against the yen on Wednesday, the euro rose to a weekly high. The euro climbed to 158.53 by 10:30 am ET, up from an early morning low of 157.00.