The dollar remained relatively firm in midday trade ahead of this afternoon's US economic data.
The key reports today are the advance reading for fourth quarter US GDP and January's Chicago PMI survey.
The former is expected to show an annualised growth rate of 4.9 per cent compared with the massive 8.2 per cent experienced in the third quarter, while the latter is expected to rise to 61.5 per cent from 59.2 per cent in December.
Also weighing on the euro has been disappointing euro zone data - in particular the 2.3 per cent monthly decline in German retail sales in December. The French December unemployment rate of 9.7 per cent also disappointed.
Further subdued news came from the European Commission's survey into euro zone economic sentiment. The main indicator indicator only rose to 95.8 in January from 95.6 in December.
Overall, market commentators expect the dollar to remain supported in the short term as the expected strong US data strengthens US rate rise expectations.