Investing.com – The euro's rebound against the U.S. dollar faltered on Monday, after the pair broke above the 1.37 mark in the wake of comments by European officials signaling support for debt-laden Greece.
After EUR/USD hit 1.3704, a 2-day high, the pair fell back to 1.3665 during European afternoon trade, still gaining 0.3%.
The pair was likely to find resistance at 1.3839, the high of Feb. 9, and support at 1.3434, Tuesday's low and a 9-month low.
The euro's rally against the yen also stalled on Monday, after the EUR/JPY hit a 2-week high at 123.89. The pair later consolidated around 123.42, still gaining 0.33%.
On Sunday, French President Nicolas Sarkozy said the euro zone was ready to rescue Greece plug its gaping budget deficit.
"I want to be very clear. If necessary, eurozone governments will fulfill their commitments and there can be no doubt about that," AFP quoted Sarkozy as telling a joint news conference with the Greek prime minister, George Papandreou.
Meanwhile, the Sentix research group said earlier Monday that investor sentiment in the euro zone rose at a faster-than-expected pace in March.
Sentix's closely watched gauge of investor and analyst sentiment rose from -8.2 in February to -7.5 in March, data showed. Economists had expected the tally to rise only to -7.6.