Investing.com – The euro remained lower against the U.S. dollar on Monday, as ongoing uncertainty over how Greece’s sovereign debt crisis will be resolved dampened demand for the currency.
EUR/USD hit 1.4258 during European late morning trade, the daily low; the pair subsequently consolidated at 1.4287, shedding 0.23%.
The pair was likely to find support at 1.4124, Friday’s low and resistance at 1.4422, the high of May 11.
Later in the week, European Union and International Monetary Fund officials were expected to deliver a report on Greece's attempts to meet fiscal targets under its bailout plan.
Over the weekend, Germany’s Der Spiegel magazine said the review will find Greece has missed all its targets. However, the IMF said Sunday that the media report was untrue.
Prime Minister George Papandreou has failed to win backing from the opposition to adopt fresh austerity steps, fuelling concerns over whether Greece will receive its next tranche of bailout loans.
The euro was also lower against the Swiss franc, with EUR/CHF slipping 0.16% to hit 1.2136.
Liquidity was relatively thin as U.K. markets remained closed for the Spring Bank Holiday, while U.S. markets were to stay closed for Memorial Day.
EUR/USD hit 1.4258 during European late morning trade, the daily low; the pair subsequently consolidated at 1.4287, shedding 0.23%.
The pair was likely to find support at 1.4124, Friday’s low and resistance at 1.4422, the high of May 11.
Later in the week, European Union and International Monetary Fund officials were expected to deliver a report on Greece's attempts to meet fiscal targets under its bailout plan.
Over the weekend, Germany’s Der Spiegel magazine said the review will find Greece has missed all its targets. However, the IMF said Sunday that the media report was untrue.
Prime Minister George Papandreou has failed to win backing from the opposition to adopt fresh austerity steps, fuelling concerns over whether Greece will receive its next tranche of bailout loans.
The euro was also lower against the Swiss franc, with EUR/CHF slipping 0.16% to hit 1.2136.
Liquidity was relatively thin as U.K. markets remained closed for the Spring Bank Holiday, while U.S. markets were to stay closed for Memorial Day.