The euro climbed to 1.3465 resistance area, before retreating, against the dollar today after Germany’s ZEW economic sentiment indicator rose to its highest level in six months reaching 15.4 (forecast was for 6.8) in January from 4.3 the previous month. 

Germany’s figures came after last week’s comments on inflation from ECB bank Trichet, spurring expectations for an interest rate hike sooner rather than later. Adding to the momentum were comments from the Russian finance minister that the country was supportive of the euro zone’s efforts to see off a debt crisis and could buy more bonds from the European Financial Stability Facility rescue fund.