Investing.com – The euro was lower against the U.S. dollar on Wednesday, as speculation that the Federal Reserve may curtail its quantitative easing program and tighten monetary policy bolstered the greenback.
EUR/USD hit 1.4053 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.4083, slipping 0.21%.
The pair was likely to find short-term support at 1.4019, Monday’s low and a six-day low and resistance at 1.4193, last Friday’s high.
The dollar was bolstered after Federal Reserve Bank of Dallas President Richard Fisher said Tuesday that he did not support further liquidity provision from the U.S. central bank and didn't expect the Fed to launch a third program of asset purchases.
However, the single currency remained well supported after European Central Bank Governing Council member Jozef Makuch, said Tuesday that the bank was "highly" likely to raise its main interest rate from the current record low level of 1.0% next month.
The euro was also lower against the pound, with EUR/GBP shedding 0.40% to hit 0.8782.
Also Wednesday, payroll processor ADP said U.S. private employers added 201,000 jobs in March, while February's figure was revised down slightly.
EUR/USD hit 1.4053 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.4083, slipping 0.21%.
The pair was likely to find short-term support at 1.4019, Monday’s low and a six-day low and resistance at 1.4193, last Friday’s high.
The dollar was bolstered after Federal Reserve Bank of Dallas President Richard Fisher said Tuesday that he did not support further liquidity provision from the U.S. central bank and didn't expect the Fed to launch a third program of asset purchases.
However, the single currency remained well supported after European Central Bank Governing Council member Jozef Makuch, said Tuesday that the bank was "highly" likely to raise its main interest rate from the current record low level of 1.0% next month.
The euro was also lower against the pound, with EUR/GBP shedding 0.40% to hit 0.8782.
Also Wednesday, payroll processor ADP said U.S. private employers added 201,000 jobs in March, while February's figure was revised down slightly.