Investing.com - The euro weakened against the dollar on Wednesday after reports surfaced that Greece's talks with its private creditors failed to materialize into a concrete deal, overshadowing positive manufacturing data coming out of the crisis-stricken continent.
EUR/USD hit 1.3031 in early Asian trading on Wednesday, down 0.04%, up from a session low of 1.3024 and off from a high of 1.3047.
The pair sought to test support at 1.2883, Monday's low, and resistance at 1.3063, Tuesday's high.
While Greece and its creditors are largely close to agreeing on the size of the haircut lenders will take amid restructuring, interest rates and other issues remain unresolved.
Markets had been hoping for a deal last week but further delays overshadowed better-than-expected European manufacturing and services indices in U.S. and European sessions on Tuesday, which carried into Asia.
The euro, meanwhile, was up against the pound as well as the yen, with EUR/GBP gaining 0.02% to 0.8344 and EUR/JPY rising 0.13% at 101.38.
The Federal Reserve Open Market Committee will unveil its decision on interest rates later Wednesday.
Investors are also awaiting U.K. GDP data and mortgage approvals as well as the Bank of England's meeting minutes.
In the U.S., housing market data, crude oil stockpiles will be released.
In other news, the World Economic Forum will take place in Davos, Switzerland.
EUR/USD hit 1.3031 in early Asian trading on Wednesday, down 0.04%, up from a session low of 1.3024 and off from a high of 1.3047.
The pair sought to test support at 1.2883, Monday's low, and resistance at 1.3063, Tuesday's high.
While Greece and its creditors are largely close to agreeing on the size of the haircut lenders will take amid restructuring, interest rates and other issues remain unresolved.
Markets had been hoping for a deal last week but further delays overshadowed better-than-expected European manufacturing and services indices in U.S. and European sessions on Tuesday, which carried into Asia.
The euro, meanwhile, was up against the pound as well as the yen, with EUR/GBP gaining 0.02% to 0.8344 and EUR/JPY rising 0.13% at 101.38.
The Federal Reserve Open Market Committee will unveil its decision on interest rates later Wednesday.
Investors are also awaiting U.K. GDP data and mortgage approvals as well as the Bank of England's meeting minutes.
In the U.S., housing market data, crude oil stockpiles will be released.
In other news, the World Economic Forum will take place in Davos, Switzerland.