Euro Surges Past $1.1640 Amid US Dollar Weakness Ahead of ECB Rate Decision

The Euro has nudged up above $1.1640 against the US Dollar on Wednesday's early European session, despite a risk-off mood and high crude prices.

This move is largely due to broad-based USD weakness, which has allowed EUR/USD to hit 12-day highs.

Investors are bracing for Thursday's European Central Bank (ECB) monetary policy meeting, but the calendar is relatively thin with ECB President Christine Lagarde speaking at the Deutsche Bundesbank in Berlin.

Lagarde will not discuss monetary policy ahead of the central bank's two-day meeting, which is widely expected to result in a quarter-point hike to 2.5% in the benchmark interest rate.