Investing.com - The euro was steady against the U.S. dollar on Friday, as lack of clarity over the future of the Federal Reserve's stimulus program coupled with sustained U.S. budget concerns dented market sentiment.
EUR/USD hit 1.3502 during late Asian trade, the session high; the pair subsequently consolidated at 1.3496, up 0.06%.
The pair was likely to find support at 1.3338, the low of September 18 and resistance at 1.3544, the high of September 23.
Markets were jittery as a recent string of U.S. economic reports underlined concerns over the outlook for the nation's economic recovery.
On Thursday, official data showed that the U.S. economy expanded by 2.5% in the second quarter, confounding expectations for a 2.6% expansion.
Last week, the Fed said it wanted to see more evidence of a sustained economic recovery before it reduced stimulus.
Separately, U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
The euro also came under pressure after European Central Bank Executive Board member Benoit Coeure said the bank has room to cut interest rates further if needed but does not target a specific level for money market rates.
The single currency was lower against the pound with EUR/GBP shedding 0.30%, to hit 0.8384.
Later in the day, Germany was to produce preliminary data on consumer inflation, while France is was release a report on consumer spending.
The U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan, as well as data on personal income and expenditure.
EUR/USD hit 1.3502 during late Asian trade, the session high; the pair subsequently consolidated at 1.3496, up 0.06%.
The pair was likely to find support at 1.3338, the low of September 18 and resistance at 1.3544, the high of September 23.
Markets were jittery as a recent string of U.S. economic reports underlined concerns over the outlook for the nation's economic recovery.
On Thursday, official data showed that the U.S. economy expanded by 2.5% in the second quarter, confounding expectations for a 2.6% expansion.
Last week, the Fed said it wanted to see more evidence of a sustained economic recovery before it reduced stimulus.
Separately, U.S. budget concerns persisted after Republican leaders in the U.S. House of Representatives refused on Thursday to give in to President Barack Obama's demand for straightforward bills to run the government beyond September 30 and to increase borrowing authority to avoid a default.
The euro also came under pressure after European Central Bank Executive Board member Benoit Coeure said the bank has room to cut interest rates further if needed but does not target a specific level for money market rates.
The single currency was lower against the pound with EUR/GBP shedding 0.30%, to hit 0.8384.
Later in the day, Germany was to produce preliminary data on consumer inflation, while France is was release a report on consumer spending.
The U.S. was to release revised data on consumer sentiment and inflation expectations from the University of Michigan, as well as data on personal income and expenditure.