Investing.com - The euro fell to a three-week low against the U.S. dollar on Thursday, after euro zone finance ministers postponed a decision on whether to sign off on a second bailout package for Greece.
EUR/USD hit 1.2994 during late Asian trade, the pair’s lowest since January 25; the pair subsequently consolidated at 1.3016, shedding 0.38%.
The pair was likely to find support at 1.2930, the low of January 25 and resistance at 1.3066, the session high.
The euro was pressured lower by reports that European Union officials are looking at ways to delay the second bailout, amid concerns that political leaders in Greece are not fully committed to implementing harsh austerity measures demanded by international creditors.
On Wednesday, Eurogroup President Jean Claude Juncker said he was confident that finance ministers will make a final decision on Greece's new bailout and private-debt restructuring at a meeting on Monday.
Meanwhile, the dollar found support after the minutes of the Federal Reserve’s January policy meeting showed that policymakers were divided about whether to launch fresh easing measures to shore up growth, but were still actively considering such a move.
The euro was also lower against the pound, with EUR/GBP shedding 0.29% to hit 0.8301.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as reports on producer price inflation and unemployment claims. In addition, Fed Chairman Ben Bernanke was due to speak.
EUR/USD hit 1.2994 during late Asian trade, the pair’s lowest since January 25; the pair subsequently consolidated at 1.3016, shedding 0.38%.
The pair was likely to find support at 1.2930, the low of January 25 and resistance at 1.3066, the session high.
The euro was pressured lower by reports that European Union officials are looking at ways to delay the second bailout, amid concerns that political leaders in Greece are not fully committed to implementing harsh austerity measures demanded by international creditors.
On Wednesday, Eurogroup President Jean Claude Juncker said he was confident that finance ministers will make a final decision on Greece's new bailout and private-debt restructuring at a meeting on Monday.
Meanwhile, the dollar found support after the minutes of the Federal Reserve’s January policy meeting showed that policymakers were divided about whether to launch fresh easing measures to shore up growth, but were still actively considering such a move.
The euro was also lower against the pound, with EUR/GBP shedding 0.29% to hit 0.8301.
Later in the day, the U.S. was to publish official data on building permits and housing starts, as well as reports on producer price inflation and unemployment claims. In addition, Fed Chairman Ben Bernanke was due to speak.