Investing.com – The euro moved lower against the U.S dollar on Tuesday, falling to a fresh 2-day low but losses were limited amid uncertainty ahead of the release of a flurry of U.S. economic data.
EUR/USD hit 1.3882 during European early afternoon trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 1.3884, shedding 0.59%.
The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.4097, Monday’s high.
On Monday New York Federal Reserve President William Dudley said that the banks approach to more asset purchases depends on the economic context.
"If the economic outlook took a dramatic turn for the worst, you might want to do a large amount of anything," he said. "But that doesn't say anything about what you would do if you thought monetary policy was close to appropriate and you wanted to make a small tweak," he added.
The euro was also down against the pound, with EUR/GBP plunging 1.31% to hit 0.8763.
Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing.
EUR/USD hit 1.3882 during European early afternoon trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 1.3884, shedding 0.59%.
The pair was likely to find support at 1.3697, the low of October 20 and resistance at 1.4097, Monday’s high.
On Monday New York Federal Reserve President William Dudley said that the banks approach to more asset purchases depends on the economic context.
"If the economic outlook took a dramatic turn for the worst, you might want to do a large amount of anything," he said. "But that doesn't say anything about what you would do if you thought monetary policy was close to appropriate and you wanted to make a small tweak," he added.
The euro was also down against the pound, with EUR/GBP plunging 1.31% to hit 0.8763.
Later in the day, the U.S. was to release industry data on consumer confidence and house prices as well as official data on manufacturing.