Investing.com - The euro traded down against the U.S. dollar Monday, as the euro zone debt crisis pressured the single currency, while a highly anticipated meeting of European Union finance ministers is taking place today..
EUR/USD hit 1.2938 during European afternoon trade, the pair's lowest since October 4; the pair subsequently consolidated at 1.2976, dropping 0.45%.
The pair was likely to find support at 1.2910, the low of October 4 and resistance at 1.3026, the session high.
Sentiment came under pressure ahead of a meeting of EU ministers in Luxemburg and as German Chancelor Angela Merkel was to make her first trip to Greece since July 2007 on Tuesday.
Merkel's visit coincides with deliberations among Greece's troika of international creditors - the ECB, the European Commission and the International Monetary Fund - on whether the country will receive its next installment of aid.
Investor confidence was also hit by data showing that the Sentix index of investor confidence in the euro zone for October improved less-than-expected, ticking up to minus 22 from a reading of minus 23.2 the previous month.
Analysts had expected the index to improve to minus 20.8.
A separate report showed that German industrial production fell 0.5% in August, less than the expected 0.8% decline, after a 1.2% increase the previous month.
Elsewhere, the euro was higher against the pound with EUR/GBP adding 0.14%, to hit 0.8089.
Trading volumes were expected to be light on Monday, as bond markets in the U.S. were to remain closed for Columbus Day.
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Forex - EUR/USD down on euro zone fears, meeting anticipation
Published 10/08/2012, 12:04 PM
Updated 10/08/2012, 12:05 PM
Forex - EUR/USD down on euro zone fears, meeting anticipation
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