Investing.com - The euro was steady at 23-month highs against the dollar on Wednesday after the latest U.S. employment report showed that jobs growth had slowed even before the start of the recent 16-day government shutdown.
EUR/USD hit 1.3793 during late Asian trade, the highest since mid-November 2011; the pair subsequently consolidated at 1.3778, dipping 0.05%.
The pair was likely to find support at 1.3750 and resistance at 1.3858, the high of November 9, 2011.
The dollar fell sharply against the euro and the other major currencies on Tuesday after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The U.S. unemployment rate ticked down to a four-and-a-half year low of 7.2% from 7.3% in August, but this was partially due to more people dropping out of the labor force.
The jobs report was released 18 days behind schedule due to disruption caused by the U.S. government shutdown.
The disappointing data reinforced expectations that the Federal Reserve will maintain the current pace of its asset purchase program well into next year.
Elsewhere, the euro edged higher against the pound, with EUR/GBP inching up 0.10% to 0.8496 and was sharply lower against the stronger yen, with EUR/JPY down 0.78% to 134.15.
The Bank of England was to publish the minutes of its latest policy meeting later Wednesday, while the Bank of Canada was to announce its benchmark interest rate.
EUR/USD hit 1.3793 during late Asian trade, the highest since mid-November 2011; the pair subsequently consolidated at 1.3778, dipping 0.05%.
The pair was likely to find support at 1.3750 and resistance at 1.3858, the high of November 9, 2011.
The dollar fell sharply against the euro and the other major currencies on Tuesday after the Department of Labor said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The U.S. unemployment rate ticked down to a four-and-a-half year low of 7.2% from 7.3% in August, but this was partially due to more people dropping out of the labor force.
The jobs report was released 18 days behind schedule due to disruption caused by the U.S. government shutdown.
The disappointing data reinforced expectations that the Federal Reserve will maintain the current pace of its asset purchase program well into next year.
Elsewhere, the euro edged higher against the pound, with EUR/GBP inching up 0.10% to 0.8496 and was sharply lower against the stronger yen, with EUR/JPY down 0.78% to 134.15.
The Bank of England was to publish the minutes of its latest policy meeting later Wednesday, while the Bank of Canada was to announce its benchmark interest rate.