Investing.com - The dollar firmed against the euro on Friday after revised U.S. consumer sentiment data beat expectations.
In U.S. trading on Friday, EUR/USD was down 0.32% at 1.3198, up from a session low of 1.3174 and off from a high of 1.3255.
The pair was likely to find support at 1.3166, the low from July 25, and resistance at 1.3398, Wednesday's high.
The Thomson Reuters/University of Michigan revised consumer sentiment index for August rose to 82.0. from a reading 80.0 in July, beating expectations for an uptick to 80.5.
Elsewhere in the U.S., a widely-watched Chicago purchasing managers' index rose to 53.0 this month from 52.3 in July, in line with expectations.
Friday's data rekindled expectations that the Federal Reserve may begin to taper its USD85 billion monthly bond-buying program in September as opposed to later in the year.
Monetary stimulus tools such as Federal Reserve asset purchases weaken the dollar by driving down interest rates, and talk of their dismantling strengthens the greenback.
Also Friday, the Bureau of Economic Analysis revealed that personal spending rose slightly less than expected in July, expanding 0.1% after an upwardly revised 0.6% increase the previous month. Analysts were expecting personal spending to rise 0.3% last month.
Across the Atlantic in the euro zone, official data revealed that the bloc's consumer price index expanded 1.3% in August compared to 1.6% in July, just shy of market expectations for a 1.4% inflation rate
The euro zone's unemployment rate remained unchanged at 12.1% in July, in line with expectations.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.12% at 0.8530 and EUR/JPY trading down 0.35% at 129.71.
U.S. markets will be closed on Monday for the country's Labor Day holiday.
In U.S. trading on Friday, EUR/USD was down 0.32% at 1.3198, up from a session low of 1.3174 and off from a high of 1.3255.
The pair was likely to find support at 1.3166, the low from July 25, and resistance at 1.3398, Wednesday's high.
The Thomson Reuters/University of Michigan revised consumer sentiment index for August rose to 82.0. from a reading 80.0 in July, beating expectations for an uptick to 80.5.
Elsewhere in the U.S., a widely-watched Chicago purchasing managers' index rose to 53.0 this month from 52.3 in July, in line with expectations.
Friday's data rekindled expectations that the Federal Reserve may begin to taper its USD85 billion monthly bond-buying program in September as opposed to later in the year.
Monetary stimulus tools such as Federal Reserve asset purchases weaken the dollar by driving down interest rates, and talk of their dismantling strengthens the greenback.
Also Friday, the Bureau of Economic Analysis revealed that personal spending rose slightly less than expected in July, expanding 0.1% after an upwardly revised 0.6% increase the previous month. Analysts were expecting personal spending to rise 0.3% last month.
Across the Atlantic in the euro zone, official data revealed that the bloc's consumer price index expanded 1.3% in August compared to 1.6% in July, just shy of market expectations for a 1.4% inflation rate
The euro zone's unemployment rate remained unchanged at 12.1% in July, in line with expectations.
The euro, meanwhile, was down against the pound and down against the yen, with EUR/GBP trading down 0.12% at 0.8530 and EUR/JPY trading down 0.35% at 129.71.
U.S. markets will be closed on Monday for the country's Labor Day holiday.