Investing.com - The euro slipped lower against the U.S. dollar on Wednesday, as uncertainty over whether Spain will request a bailout dampened investor demand for the single currency.
EUR/USD hit 1.2836 during early European trade, the pair’s lowest since October 1; the pair subsequently consolidated at 1.2873, sliding 0.09%.
The pair was likely to find near-term support at 1.2802, the low of October 1 and resistance at 1.2990, Tuesday’s high.
The euro remained under pressure amid ongoing uncertainty over Spain’s position on requesting external financial aid and what form a bailout would take.
Earlier in the day, the International Monetary Fund said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
The single currency was lower against the pound and the yen, with EUR/GBP inching down 0.14% to 0.8040 and EUR/JPY dipping 0.04% to 100.78.
Later in the day, Italy was to auction EUR11 billion of short-term government bonds. The country was also to publish official data on industrial production. In addition, Spanish Prime Minister Mariano Rajoy was to hold talks with French President Francois Hollande in Paris.
EUR/USD hit 1.2836 during early European trade, the pair’s lowest since October 1; the pair subsequently consolidated at 1.2873, sliding 0.09%.
The pair was likely to find near-term support at 1.2802, the low of October 1 and resistance at 1.2990, Tuesday’s high.
The euro remained under pressure amid ongoing uncertainty over Spain’s position on requesting external financial aid and what form a bailout would take.
Earlier in the day, the International Monetary Fund said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
The single currency was lower against the pound and the yen, with EUR/GBP inching down 0.14% to 0.8040 and EUR/JPY dipping 0.04% to 100.78.
Later in the day, Italy was to auction EUR11 billion of short-term government bonds. The country was also to publish official data on industrial production. In addition, Spanish Prime Minister Mariano Rajoy was to hold talks with French President Francois Hollande in Paris.