Investing.com – The euro slipped against the U.S. dollar on Tuesday, amid concerns over the outcome of a critical Italian parliamentary vote, while investors were also jittery as they watched to see who would head the new Greek government.
EUR/USD hit 1.3736 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3741, shedding 0.26%.
The pair was likely to find support at 1.3655, the low of November 3 and resistance at 1.3829, Monday’s high.
Italian Prime Minister Silvio Berlusconi’s government was to face a vote on the country’s budget later in the day. The vote will test Berlusconi’s majority in parliament and determine if the prime minister has enough support to stay in power and implement austerity measures, after Italy’s borrowing costs surged to euro-era highs on Monday.
Berlusconi has denied speculation that he is planning to resign saying "we will persevere."
Meanwhile, in Greece officials were to announce the new head of an interim government later Tuesday, as efforts continued to avert an imminent default by implementing a new bailout program.
The euro was also lower against the pound, with EUR/GBP shedding 0.22% to hit 0.8560.
Also Tuesday, finance ministers from the European Union member states were to meet in Brussels to discuss the region’s ongoing financial crisis.
EUR/USD hit 1.3736 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3741, shedding 0.26%.
The pair was likely to find support at 1.3655, the low of November 3 and resistance at 1.3829, Monday’s high.
Italian Prime Minister Silvio Berlusconi’s government was to face a vote on the country’s budget later in the day. The vote will test Berlusconi’s majority in parliament and determine if the prime minister has enough support to stay in power and implement austerity measures, after Italy’s borrowing costs surged to euro-era highs on Monday.
Berlusconi has denied speculation that he is planning to resign saying "we will persevere."
Meanwhile, in Greece officials were to announce the new head of an interim government later Tuesday, as efforts continued to avert an imminent default by implementing a new bailout program.
The euro was also lower against the pound, with EUR/GBP shedding 0.22% to hit 0.8560.
Also Tuesday, finance ministers from the European Union member states were to meet in Brussels to discuss the region’s ongoing financial crisis.