Investing.com - The dollar remained slightly lower against the euro on Monday as politicians in Washington remained deadlocked over a deal to reopen the government and raise the debt ceiling.
EUR/USD hit 1.3582 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3563, gaining 0.17%.
The pair was likely to find support at 1.3517, Friday’s low and resistance at 1.3631, the high of October 4.
Over the weekend, President Barack Obama rejected Republican proposals for a short-term debt ceiling increase. If a deal to raise the government borrowing limit is not struck ahead of Thursday’s deadline, the U.S. will face an unprecedented sovereign debt default.
World finance ministers and central bank heads in Washington for the annual meeting of the International Monetary Fund and World Bank over the weekend called for “urgent action” to break the deadlock, warning of the negative impact on the global economic recovery.
The euro remained supported after data released on Monday showed that industrial production in the euro zone rose 1% in August, coming in above expectations for a 0.8% increase.
Elsewhere, the single currency was slightly lower against the pound, with EUR/GBP slipping 0.08% to 0.8482 and was also lower against the yen, with EUR/JPY down 0.17% to 133.22.
EUR/USD hit 1.3582 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3563, gaining 0.17%.
The pair was likely to find support at 1.3517, Friday’s low and resistance at 1.3631, the high of October 4.
Over the weekend, President Barack Obama rejected Republican proposals for a short-term debt ceiling increase. If a deal to raise the government borrowing limit is not struck ahead of Thursday’s deadline, the U.S. will face an unprecedented sovereign debt default.
World finance ministers and central bank heads in Washington for the annual meeting of the International Monetary Fund and World Bank over the weekend called for “urgent action” to break the deadlock, warning of the negative impact on the global economic recovery.
The euro remained supported after data released on Monday showed that industrial production in the euro zone rose 1% in August, coming in above expectations for a 0.8% increase.
Elsewhere, the single currency was slightly lower against the pound, with EUR/GBP slipping 0.08% to 0.8482 and was also lower against the yen, with EUR/JPY down 0.17% to 133.22.