Investing.com – The euro eased down modestly against the U.S. dollar on Monday, hovering around 1.2880 amid thin trade volume as markets in the U.S. remained closed for the Labor Day holiday.
EUR/USD hit 1.2867 during European afternoon trade, a daily low; the pair subsequently consolidated at 1.2876, shedding 0.15%.
The pair is likely to find support at 1.2625, the low of August 31, and resistance at 1.3185, the high of August 11.
Earlier in the day, European Central Bank Governing Council member Ewald Nowotny said the ECB will wait until December in order to discuss its exit from recently introduced extended stimulus measures.
Nowotny said “We certainly won’t discuss the first quarter before December of this year”, while adding “We’re still facing an economic development with a very high uncertainty in many respects. It’s certainly too early to take a clear position.”
On Thursday, the ECB decided to extend its liquidity safety net for banks until at least January 18.
Meanwhile, the euro rose to a fresh 2-month high against the pound, with EUR/GBP gaining 0.25% to hit 0.8367.
Earlier in the day, data showed that investor confidence in the euro zone fell unexpectedly in September, while markets in the U.S. were closed on Monday for Labor Day.
EUR/USD hit 1.2867 during European afternoon trade, a daily low; the pair subsequently consolidated at 1.2876, shedding 0.15%.
The pair is likely to find support at 1.2625, the low of August 31, and resistance at 1.3185, the high of August 11.
Earlier in the day, European Central Bank Governing Council member Ewald Nowotny said the ECB will wait until December in order to discuss its exit from recently introduced extended stimulus measures.
Nowotny said “We certainly won’t discuss the first quarter before December of this year”, while adding “We’re still facing an economic development with a very high uncertainty in many respects. It’s certainly too early to take a clear position.”
On Thursday, the ECB decided to extend its liquidity safety net for banks until at least January 18.
Meanwhile, the euro rose to a fresh 2-month high against the pound, with EUR/GBP gaining 0.25% to hit 0.8367.
Earlier in the day, data showed that investor confidence in the euro zone fell unexpectedly in September, while markets in the U.S. were closed on Monday for Labor Day.