The single currency also traded near a one-week high versus the yen after data showed German's economy expanded at the fastest rate in 12 years in the first quarter. The New Zealand dollar dropped for a third day on speculation the nation's central bank will reduce borrowing costs this year after retail sales slumped.
The euro advanced to $1.5501 versus the dollar as of 6:30 a.m. in New York, from $1.5474 yesterday. The single European currency traded at 162.71 yen, from 162.52.
The euro, which dropped last week to $1.5285, its lowest since March 11, gained after the European Union's statistics office said the economy grew 0.7 percent from the previous quarter.
The ECB has avoided interest-rate cuts since last year, keeping its main refinancing rate at a more-than six-year high of 4 percent, to curb inflation. Data today showed European consumer prices rose 3.3 percent in April from a year earlier, slowing from 3.6 percent the previous month.