Euro recovers to trade higher vs the dollar

NEW YORK: The euro recovered losses to trade slightly higher against the dollar on Wednesday as investors positioned for a policy setting meeting of the European Central Bank on Thursday.

The euro was last up 0.1 percent at $1.3411 , still far from the session high of $1.3454 though off the session low of $1.3349.

One analyst said a 50 basis point cut on the benchmark rate, currently 1.25 percent, from the ECB would be positive for risk appetite and should bolster the euro.