Investing.com - The euro was down against the U.S. dollar on Monday, ahead of the deadline for Greece to accept conditions required to secure a second bailout deal and avoid a sovereign debt default.
EUR/USD hit 1.3054 during late Asian trade, the pair’s lowest since February 1; the pair subsequently consolidated at 1.3073, shedding 0.64%.
The pair was likely to find support at 1.2930, the low of January 25 and resistance at 1.3130, the session high.
Greek political leaders must decide whether they accept the conditions laid out by the country’s international creditors by 11a.m. local time, in order to secure a EUR130 billion aid package.
Over the weekend Greek Prime Minister Lucas Papademos said coalition members had agreed on some conditions, but others still needed to be addressed.
Concerns over Greece overshadowed Friday’s robust U.S. employment data, which showed that the economy added 243,000 new jobs last month, the fastest increase in nine months, bringing down the unemployment rate to a three-year low of 8.3%.
The euro was also lower against the pound, with EUR/GBP shedding 0.42% to hit 0.8286.
Later in the day, the euro zone was to publish a report on investor confidence, while Germany was to publish official data on factory orders.
EUR/USD hit 1.3054 during late Asian trade, the pair’s lowest since February 1; the pair subsequently consolidated at 1.3073, shedding 0.64%.
The pair was likely to find support at 1.2930, the low of January 25 and resistance at 1.3130, the session high.
Greek political leaders must decide whether they accept the conditions laid out by the country’s international creditors by 11a.m. local time, in order to secure a EUR130 billion aid package.
Over the weekend Greek Prime Minister Lucas Papademos said coalition members had agreed on some conditions, but others still needed to be addressed.
Concerns over Greece overshadowed Friday’s robust U.S. employment data, which showed that the economy added 243,000 new jobs last month, the fastest increase in nine months, bringing down the unemployment rate to a three-year low of 8.3%.
The euro was also lower against the pound, with EUR/GBP shedding 0.42% to hit 0.8286.
Later in the day, the euro zone was to publish a report on investor confidence, while Germany was to publish official data on factory orders.