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According to the Wall Street Journal, the single currency increased to $1.4294 and Y116.58 by 04:50 BST in Asian fx trading on Thursday (May 19th) as the price of oil climbed.
The news provider explained that the oil surge boosted a number of regional bourses, which in turn helped the euro make gains.
Tomohiro Nishida, a senior dealer at Chuo Mitsui Trust and Banking, told the newswire that offers above $1.4300 may slow the currency's rise above $1.4350, where analysts believe the money will be capped.
Meanwhile, the pound weakened against the dollar, trading at $1.6135 at 08:50 BST in London, reported Bloomberg.
The drop was attributed to the impact of new research from Nationwide Building Society, which showed consumer confidence dipped in April 2011, falling to 43 points from 45 in March.
Posted by Chris Weaver
