Investing.com – The euro slipped against the U.S. dollar on Wednesday, touching a daily low as investors awaited the outcome of the Federal Reserve policy setting meeting later in the day.
EUR/USD hit 1.3679 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3679, slipping 0.14%.
The pair was likely to find support at 1.3592, Monday’s low and resistance at 1.3782, the high of September 14.
Late Tuesday, Greek Finance Minister Evangelos Venizelos said “good progress” had been made in a second round of talks with the European Union and International Monetary Fund and added that talks would continue this weekend.
Greece’s government is trying to show it can reach budget targets required to access the next EUR8 billion tranche of bailout funds.
Meanwhile, speculation mounted the Fed would announce that it plans to replace short-term Treasuries with long-term bonds, in a move known as Operation Twist.
Elsewhere, the euro edged higher against the pound, with EUR/GBP easing up 0.09% to hit 0.8716.
Also Wednesday, the U.S. was to publish industry data on existing home sales.
EUR/USD hit 1.3679 during late Asian trade, the daily low; the pair subsequently consolidated at 1.3679, slipping 0.14%.
The pair was likely to find support at 1.3592, Monday’s low and resistance at 1.3782, the high of September 14.
Late Tuesday, Greek Finance Minister Evangelos Venizelos said “good progress” had been made in a second round of talks with the European Union and International Monetary Fund and added that talks would continue this weekend.
Greece’s government is trying to show it can reach budget targets required to access the next EUR8 billion tranche of bailout funds.
Meanwhile, speculation mounted the Fed would announce that it plans to replace short-term Treasuries with long-term bonds, in a move known as Operation Twist.
Elsewhere, the euro edged higher against the pound, with EUR/GBP easing up 0.09% to hit 0.8716.
Also Wednesday, the U.S. was to publish industry data on existing home sales.