The euro rose on Thursday, boosted by solid German industrial data and signs that Spain and Greece are making progress in trimming budget deficits.

The currency also got a lift after European Central Bank President Jean-Claude Trichet said incoming economic data for the third quarter showed stronger-than-expected euro zone growth. The ECB held interest rates at 1 percent as expected.

Trichet “sounded quite positive and constructive,” said Sacha Tihanyi, strategist at Scotia Capital in Toronto, and that has added to a prevailing market tendency to buy euros.

A U.S. report showing the number of Americans filing for first-time jobless benefits rose unexpectedly in the latest week also hurt the dollar, leaving it about one yen away from a 15-year low against the Japanese currency.

Currencies were restricted to fairly narrow ranges, though, with investors reluctant to bet too much ahead of Friday’s U.S. jobs report and what it says about the U.S. recovery.

Economists polled by Reuters expect to see a loss of 65,000 U.S. jobs in July, but a 90,000 gain in private sector jobs. Data from ADP Employment Services on Wednesday forecast the economy added 43,000 jobs.

The euro rose to $1.3217 EUR=, up about half a percent on the day, while the dollar was off 0.5 percent at 85.85 yen. JPY=

A senior International Monetary Fund official told Reuters that Greece would receive a second tranche of international aid after an impressive start on its austerity plan, and that it must now shift to drastic reforms to return to growth.

Also Thursday, Spain sold 3.5 billion euros in three-year bonds at a lower yield than a previous auction in June, suggesting solid demand for debt from the country that has been experiencing debt problems.

Both countries were at the forefront of a euro zone debt crisis that drove the current below $1.19 in June, its worst showing since 2006.

The euro benefited Thursday from data showing German industrial orders data rose 3.2 percent in June, surpassing expectations on strong foreign demand.

Earlier, the euro weakened, though support at around $1.3125 appeared to hold. That level marks the 38.2 percent retracement of the euro’s November-to-June decline, and traders said a close below there could prompt further falls.