Investing.com - The euro was steady against the dollar on Tuesday, holding off from eight month highs as investors awaited the shutdown delayed U.S. nonfarm payrolls report for September later in the session.
EUR/USD hit 1.3688 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3672, dipping 0.05%.
The pair was likely to find support at 1.3630 and near-term resistance at 1.3703, Friday’s high and an eight-month high.
The dollar dropped against the other major currencies late last week amid concerns over the negative impact of the 16-day government shutdown on the already fragile U.S. economic recovery.
Fears over a drag on growth fuelled expectations that the Federal Reserve would postpone plans to start tapering its stimulus program until at least the beginning of next year.
Investors were looking to the September jobs report, which was being released 18 days behind schedule due to disruption caused by the U.S. government shutdown, to help assess the possible timescale for a reduction in Fed stimulus.
Elsewhere, the euro was little changed against the pound, with EUR/GBP inching up 0.03% to 0.8474 and was slightly higher against the yen, with EUR/JPY edging up 0.11% to 134.47.
Sterling had little reaction after data released on Tuesday showed that the U.K. public sector deficit narrowed to GBP11.1 billion in September from GBP12.1 billion in September 2012.
EUR/USD hit 1.3688 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3672, dipping 0.05%.
The pair was likely to find support at 1.3630 and near-term resistance at 1.3703, Friday’s high and an eight-month high.
The dollar dropped against the other major currencies late last week amid concerns over the negative impact of the 16-day government shutdown on the already fragile U.S. economic recovery.
Fears over a drag on growth fuelled expectations that the Federal Reserve would postpone plans to start tapering its stimulus program until at least the beginning of next year.
Investors were looking to the September jobs report, which was being released 18 days behind schedule due to disruption caused by the U.S. government shutdown, to help assess the possible timescale for a reduction in Fed stimulus.
Elsewhere, the euro was little changed against the pound, with EUR/GBP inching up 0.03% to 0.8474 and was slightly higher against the yen, with EUR/JPY edging up 0.11% to 134.47.
Sterling had little reaction after data released on Tuesday showed that the U.K. public sector deficit narrowed to GBP11.1 billion in September from GBP12.1 billion in September 2012.