Forex Pros - The euro was up against the U.S. dollar on Thursday, climbing to a four-day high, supported by the possibility that China will step up European bond purchases but concerns over the Greek debt crisis continued to linger.
EUR/USD hit 1.4190 during late Asian trade, the pair's highest since May 20; the pair subsequently consolidated at 1.4174, gaining 0.61%.
The pair was likely to find support at 1.4001, Tuesday's low and resistance at 1.4345, the high of May 20.
The euro found support after a senior official from the People's Bank of China said Beijing should expand its purchases of euro zone sovereign debt and increase direct investment into Europe.
Meanwhile, hopes for a rate hike by the European Central Bank this year were reignited after Executive Board member Juergen Stark said Wednesday that the goal of preventing a financial meltdown had been achieved and "the time has come to return to normal."
The euro was also higher against the pound, with EUR/GBP rising 0.35% to hit 0.8687.
Later in the day, ECB president Jean-Claude Trichet was to speak, while the U.S. was to publish revised government data on first quarter economic growth as well as a weekly report on initial jobless claims.