Investing.com – The euro was down against the U.S. dollar on Tuesday, falling to a 2-day low, as concerns that the Federal Reserve would implement large scale qualitative easing measures to boost U.S. growth eased.
EUR/USD hit 1.3387 during European morning trade, the pair's lowest since last September 24; the pair subsequently consolidated at 1.3400, shedding 0.40%.
The pair was likely to find support at 1.3285, last Friday's low and resistance at 1.3506, Monday's high.
The dollar's gains came after the Wall Street Journal reported that Fed officials were considering smaller scale Treasury purchases than were undertaken in the past while leaving open the option to do more as the economic situation evolved.
The euro was also down against the pound, with EUR/GBP shedding 0.20% to hit 0.8482.
Earlier in the day, the market research group Gfk said its index of Germany's consumer climate rose more-than-expected in September, climbing to its highest level since October 2007.
EUR/USD hit 1.3387 during European morning trade, the pair's lowest since last September 24; the pair subsequently consolidated at 1.3400, shedding 0.40%.
The pair was likely to find support at 1.3285, last Friday's low and resistance at 1.3506, Monday's high.
The dollar's gains came after the Wall Street Journal reported that Fed officials were considering smaller scale Treasury purchases than were undertaken in the past while leaving open the option to do more as the economic situation evolved.
The euro was also down against the pound, with EUR/GBP shedding 0.20% to hit 0.8482.
Earlier in the day, the market research group Gfk said its index of Germany's consumer climate rose more-than-expected in September, climbing to its highest level since October 2007.