Investing.com – The euro opened lower against the U.S. dollar on Monday, amid ongoing concerns over debt levels in peripheral euro zone nations and after upbeat U.S. data released Friday boosted optimism in the U.S. economic recovery.
EUR/USD hit 1.3183 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3216, shedding 0.06%.
The pair was likely to find support at 1.3059, the low of December 2 and resistance at 1.3421, the high of December 6.
On Friday, France and Germany rejected calls for an increase in the bloc's rescue fund and joint sovereign bonds.
However Germany's finance minister Wolfgang Schäuble said his country was prepared to pursue bold action to preserve Europe's common currency, saying "All European countries are determined to keep this European currency stable, and we have the means to do it."
Meanwhile, U.S. data released Friday showed the U.S. trade deficit narrowed 13% to USD38.7 billion in October, the smallest since January, as exports rose to a two-year high.
Also last week, data showed that jobless benefits decreased and consumer sentiment climbed.
Meanwhile, the euro was up against the pound, with EUR/GBP edging up 0.07% to hit 0.8374.
Later in the day, European Central Bank president, Jean-Claude Trichet was to speak in Frankfurt.
EUR/USD hit 1.3183 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3216, shedding 0.06%.
The pair was likely to find support at 1.3059, the low of December 2 and resistance at 1.3421, the high of December 6.
On Friday, France and Germany rejected calls for an increase in the bloc's rescue fund and joint sovereign bonds.
However Germany's finance minister Wolfgang Schäuble said his country was prepared to pursue bold action to preserve Europe's common currency, saying "All European countries are determined to keep this European currency stable, and we have the means to do it."
Meanwhile, U.S. data released Friday showed the U.S. trade deficit narrowed 13% to USD38.7 billion in October, the smallest since January, as exports rose to a two-year high.
Also last week, data showed that jobless benefits decreased and consumer sentiment climbed.
Meanwhile, the euro was up against the pound, with EUR/GBP edging up 0.07% to hit 0.8374.
Later in the day, European Central Bank president, Jean-Claude Trichet was to speak in Frankfurt.