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EUR/USD dips in quiet holiday session, U.S. data support

Published 04/21/2014, 12:20 PM
Updated 04/21/2014, 12:22 PM
Dollar edges higher over euro in quiet, holiday trading
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Investing.com - The euro edged lower against the dollar on Monday in quiet trading, as European countries were on holiday, while upbeat data in the U.S. gave the dollar an edge over the single currency.

In U.S. trading, EUR/USD was down 0.14% at 1.3791, up from a session low of 1.3787 and off a high of 1.3830.

The pair was likely to find support at 1.3808, Friday's low, and resistance at 1.3864, Thursday's high.

The Conference Board reported earlier that its index of leading indicators increased 0.8% in March after a 0.5% rise in February, beating expectations for a 0.7% reading.

Elsewhere, the Chicago Fed National Activity Index decreased to 0.20 in March from 0.53 in February, in line with expectations.

A weaker yen edged the greenback over the single currency, with no news coming out of Europe due to the Easter holiday.

Japan's March trade deficit widened to ¥1.446 trillion, outpacing a forecast for a ¥1.070 trillion figure.

Exports were up 1.8% on-year, missing a forecast of a 6.3% year-on-year gain and imports rose 18.1%, with expectations for a 16.2% increase.

The data for the full-year ended March showed the country reached a record trade deficit of ¥13.7 trillion.

The euro was down against the pound, with EUR/GBP down 0.18% to 0.8211, and up against the yen, with EUR/JPY up 0.01% at 141.43.

On Tuesday, the U.S. is to release private sector data on existing home sales.

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