Investing.com - The euro dipped against the yen on Wednesday after the International Monetary Fund announced a decision to cut its 2012 and 2013 global growth forecasts, which sparked demand for safe-haven currencies.
The single currency traded lower also as investors braced for Italian and French industrial production data.
In Asian trading on Wednesday, EUR/JPY hit 100.73, down 0.11%, up from a low of 100.54 and off a high of 100.79.
The pair sought to test support at 100.49, Tuesday's low, and resistance at 101.84, Tuesday's high.
The International Monetary Fund said that the global economy will expand 3.3% this year and 3.6% in 2013.
Both forecasts represent downward revisions from July's calls for 3.5% growth this year and 3.9% in 2013.
The downward revisions sparked demand for the safe-haven dollar and yen, which sent the euro falling.
The euro also fell as investors jumped to the sidelines ahead of the release of French and Italian industrial production data.
Uncertainty elsewhere also kept investors in the safety of the yen.
Protestors clashed with police in Athens to mark German Chancellor Angela Merkel's visit to Greece, as the German leader urged Greeks to stick with austerity measures, adding the country will be better off in the long run.
Uncertainty over whether Spain will seek a bailout kept the euro down as well.
The euro, meanwhile, was down against the pound and down against the Canadian dollar, with EUR/GBP trading down 0.09% at 0.8044 and EUR/CAD trading down 0.08% at 1.2597.
In the U.S. on Wednesday, the Federal Reserve is to publish its Beige Book, which outlines current economic conditions.
The single currency traded lower also as investors braced for Italian and French industrial production data.
In Asian trading on Wednesday, EUR/JPY hit 100.73, down 0.11%, up from a low of 100.54 and off a high of 100.79.
The pair sought to test support at 100.49, Tuesday's low, and resistance at 101.84, Tuesday's high.
The International Monetary Fund said that the global economy will expand 3.3% this year and 3.6% in 2013.
Both forecasts represent downward revisions from July's calls for 3.5% growth this year and 3.9% in 2013.
The downward revisions sparked demand for the safe-haven dollar and yen, which sent the euro falling.
The euro also fell as investors jumped to the sidelines ahead of the release of French and Italian industrial production data.
Uncertainty elsewhere also kept investors in the safety of the yen.
Protestors clashed with police in Athens to mark German Chancellor Angela Merkel's visit to Greece, as the German leader urged Greeks to stick with austerity measures, adding the country will be better off in the long run.
Uncertainty over whether Spain will seek a bailout kept the euro down as well.
The euro, meanwhile, was down against the pound and down against the Canadian dollar, with EUR/GBP trading down 0.09% at 0.8044 and EUR/CAD trading down 0.08% at 1.2597.
In the U.S. on Wednesday, the Federal Reserve is to publish its Beige Book, which outlines current economic conditions.