Investing.com - The euro slid lower against the U.S. dollar on Friday, as concerns over a potential Greek default grew stronger after the International Monetary Fund chose to leave negotiations and as demand for the greenback remained supported ahead of upcoming U.S. data.
EUR/USD hit 1.1218 during late Asian trade, the session low; the pair subsequently consolidated at 1.1224, shedding 0.28%.
The pair was likely to find support at 1.1080, the low of June 8 and resistance at 1.1332, Thursday's low.
The single currency tumbled over 1% against the dollar on Thursday when the IMF pulled out of Greek debt talks after it accused Athens of failing to compromise over labour market and pension reforms.
The IMF said its team of negotiators had quit talks in Brussels after reaching a stalemate and would be returning to Washington.
Greek Prime Minister Alexis Tsipras was scheduled to resume talks in Brussels with European commission President Jean-Claude Juncker on Friday. However, such a meeting is now in doubt.
A government spokesman said Greece's negotiating team is "ready" to intensify efforts to wrap up a deal "even in the next 24 hours."
Meanwhile, demand for the dollar remained supported as investors eyed a preliminary report on U.S. consumer sentiment later in the day, for further indications on the strength of the economy.
On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending June 6 increased unexpectedly by 2,000 to 279,000.
But at the same time the U.S. Commerce Department said that retail sales increased by 1.2% last month, beating expectations for a gain of 1.1%, and that core retail sales, which exclude automobile sales, rose by 1.0% in May, compared to forecasts for a 0.7% increase.
The euro was also lower against the pound, with EUR/GBP slipping 0.21% to 0.7237.