The euro rose to a fresh daily high against the U.S. dollar on Thursday, ahead of the European Central Bank’s announcement on its minimum bid rate.
EUR/USD hit 1.2838 during European morning trade, a fresh daily high; the pair subsequently consolidated at 1.2830, gaining 0.16%.

U.S. gross domestic product slowed less-than-expected in the second quarter, official data showed on Friday.
In a report, the U.S. Bureau of Economic Analysis revised its outlook on the U.S. economy, saying it grew at an annualized, seasonally adjusted rate of 1.6% in the second quarter, revised down from an advanced estimate of 2.4%.

The U.S. dollar fell against the Swiss franc on Wednesday, hitting a 4-day low, amid fears over a slowdown on the rate of global economic growth after worse-than-expected U.S. home sales data.

The week beginning August 23 follows one during which saw the U.S. dollar, yen and Swiss franc rally as risk aversion swelled amid resurgent fears over a slowdown in the pace of the global economic recovery.
The euro ended the week close to a 6-week low against the U.S. dollar after European Central Bank council member Axel Webber said that the ECB would be "wise" not to change the bank's policy of providing unlimited liquidity to euro zone banks into 2011.

The euro erased gains against the U.S. dollar on Wednesday, after a downbeat assessment of the U.S. economy by St. Louis Federal Reserve President James Bullard.
EUR/USD retreated from 1.2922, the daily high, to hit 1.2857 during European afternoon trade, shedding 0.21%.