NEW YORK: The euro edged slightly higher against the dollar Wednesday in a generally quiet forex market unmoved by the slight improvements in the US economy noted in the Federal Reserve's Beige Book survey.
"Trading during the North American trading session was pretty boring today in the FX world as equities are garnering most of the attention. The earnings season is upon us and evidently, equities traders aren't too happy with what they are seeing so far," said Neil Gilbert of GFT.
"Despite the downtrodden feel on Wall Street, the euro/dollar rate and other similar risk-based currency pairs rose slightly during the North American trading session."
At 2100 GMT, the euro was at $1.2887, compared with $1.2881 late Tuesday.
The yen was barely changed against the euro, at 100.74 yen per euro, and slightly higher on the dollar at 78.18 yen, from 78.23.
The British pound gained a bit of ground on the greenback, to $1.6004 from $1.5997. The dollar also lost against the Swiss franc, to 0.9388 francs from 0.9405 francs.
The Fed's regular Beige Book survey of regional economies, which helps shape the central bank's policy decisions, reported general improvement in the economy in September, but still characterized growth as less peppy than early in the year.
"The overwhelming theme of the report seemed to indicate that growth is expanding modestly outside of New York and Kansas City," said Gilbert.
"Other than that, there wasn't much to take away."
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