Investing.com – The euro erased gains against the U.S. dollar on Wednesday, after a downbeat assessment of the U.S. economy by St. Louis Federal Reserve President James Bullard.
EUR/USD retreated from 1.2922, the daily high, to hit 1.2857 during European afternoon trade, shedding 0.21%.
The pair was likely to find support at 1.2733, Monday's low and resistance at 1.3186, the high of August 11.
Earlier in the day, Bullard in an interview with the Wall Street Journal said that there was still a fifty-fifty chance of further asset purchases in the U.S. if inflation continues to decline.
The euro was also down against the pound, with EUR/GBP shedding 0.22% to hit 0.8242.
Earlier in the day, Germany auctioned EUR 5 billion of 10-year government bonds at a record low yield of 2.37%. Meanwhile, Portugal sold EUR 175 million more than planned of its 3-month Treasury bills.
EUR/USD retreated from 1.2922, the daily high, to hit 1.2857 during European afternoon trade, shedding 0.21%.
The pair was likely to find support at 1.2733, Monday's low and resistance at 1.3186, the high of August 11.
Earlier in the day, Bullard in an interview with the Wall Street Journal said that there was still a fifty-fifty chance of further asset purchases in the U.S. if inflation continues to decline.
The euro was also down against the pound, with EUR/GBP shedding 0.22% to hit 0.8242.
Earlier in the day, Germany auctioned EUR 5 billion of 10-year government bonds at a record low yield of 2.37%. Meanwhile, Portugal sold EUR 175 million more than planned of its 3-month Treasury bills.