Investing.com - The euro fell against the dollar on Monday as investors sought safety in the greenback to see who will win Tuesday's presidential elections in the U.S.
Concerns Greek policymakers won't agree on austerity targets needed for a fresh shot of bailout money pushed the euro down as well.
In Asian trading on Monday, EUR/USD was trading down 0.08% at 1.2826, up from a session low of 1.2817, and off from a high of 1.2835.
The pair is likely to find support at 1.2817, the earlier low, and resistance at 1.3020, Wednesday's high.
President Barack Obama and his challenger, Republican Mitt Romney, are neck and neck in the polls.
With no clear winner, investors have flocked to safety of the dollar before Tuesday's elections, which continued to bolster the unit in early Asian trading on Monday.
On Friday, the U.S. Bureau of Labor Statistics revealed that the U.S. economy added 171,000 jobs in October, beating out analysts' calls for a gain of around 125,000.
The headline unemployment rate rose to 7.9% from 7.8% in September, as more unemployed workers jumped into the labor force by actively seeking work.
While better than expected, the jobs number depicts an economy that is still too weak to significantly improve its labor force by absorbing both unemployed workers and those entering the work force for the first time.
Some analysts have said the economy should create at least 250,000 a month on an ongoing basis before recovery really gains steam.
Meanwhile in Greece, the government will present an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes to Parliament on Monday in the face of strikes.
Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International Monetary Fund, the European Commission and the European Central Bank.
Some coalition politicians have said they oppose certain austerity measures that call for wage cuts.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.04% at 0.8009, and EUR/JPY trading down 0.04% at 103.24.
Later Monday, the eurozone will release a report on investor confidence, while Spain will publish official data on employment change.
In the U.S., the Institute of Supply Management is to publish data on service-sector activity.
Concerns Greek policymakers won't agree on austerity targets needed for a fresh shot of bailout money pushed the euro down as well.
In Asian trading on Monday, EUR/USD was trading down 0.08% at 1.2826, up from a session low of 1.2817, and off from a high of 1.2835.
The pair is likely to find support at 1.2817, the earlier low, and resistance at 1.3020, Wednesday's high.
President Barack Obama and his challenger, Republican Mitt Romney, are neck and neck in the polls.
With no clear winner, investors have flocked to safety of the dollar before Tuesday's elections, which continued to bolster the unit in early Asian trading on Monday.
On Friday, the U.S. Bureau of Labor Statistics revealed that the U.S. economy added 171,000 jobs in October, beating out analysts' calls for a gain of around 125,000.
The headline unemployment rate rose to 7.9% from 7.8% in September, as more unemployed workers jumped into the labor force by actively seeking work.
While better than expected, the jobs number depicts an economy that is still too weak to significantly improve its labor force by absorbing both unemployed workers and those entering the work force for the first time.
Some analysts have said the economy should create at least 250,000 a month on an ongoing basis before recovery really gains steam.
Meanwhile in Greece, the government will present an austerity plan calling for EUR13.5 billion in spending cuts and tax hikes to Parliament on Monday in the face of strikes.
Greece must approve the reforms and pass a new budget to free up some EUR31.5 billion in aid arranged by the International Monetary Fund, the European Commission and the European Central Bank.
Some coalition politicians have said they oppose certain austerity measures that call for wage cuts.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.04% at 0.8009, and EUR/JPY trading down 0.04% at 103.24.
Later Monday, the eurozone will release a report on investor confidence, while Spain will publish official data on employment change.
In the U.S., the Institute of Supply Management is to publish data on service-sector activity.