Trending News: Euro Nears One-Year High as US Economic Risks Weigh on Dollar

 On Thursday, the euro remained near a one-year high against the dollar due to Europe's strong economy in contrast to the potential banking contagion risks and debt ceiling standoff in the US that could lead to a recession.

The Australian dollar, which is sensitive to risk, struggled to remain above the key 66-cent mark, and Bitcoin, the leading cryptocurrency, stabilized around $29,400 following significant fluctuations in the previous session.

Meanwhile, the yen remained unchanged as the Bank of Japan commenced a two-day policy meeting.

The euro increased by 0.05% to $1.10415, returning to the overnight peak at $1.1096, the highest since April last year.

The dollar index, which measures the greenback against six major currencies, with the euro being the most heavily weighted, remained almost unchanged at 101.41 after a 0.42% drop on Wednesday, where it reached a near two-week low of 101.00.

On Wednesday, Germany revised its growth forecasts, and a survey indicated a sustained recovery in consumer confidence.

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