Investing.com- The euro was down against the U.S. dollar on Tuesday, falling to hit a 2-day low, as markets remained focused on the prospect of further monetary easing by the Federal Reserve.
EUR/USD hit 1.3808 during early European trade, the pair’s lowest since October 8; the pair subsequently consolidated at 1.3833, shedding 0.29%.
The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4028, the high of October 7.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee. In September, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
The euro was also down against the pound, with EUR/GBP shedding 0.27% to hit 0.8714.
Also Tuesday, European Central Bank President, Jean-Claude Trichet was to speak at an engagement in New York.
EUR/USD hit 1.3808 during early European trade, the pair’s lowest since October 8; the pair subsequently consolidated at 1.3833, shedding 0.29%.
The pair was likely to find support at 1.3636, the low of October 5 and resistance at 1.4028, the high of October 7.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee. In September, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
The euro was also down against the pound, with EUR/GBP shedding 0.27% to hit 0.8714.
Also Tuesday, European Central Bank President, Jean-Claude Trichet was to speak at an engagement in New York.