Investing.com - The euro trimmed losses against the U.S. dollar in subdued trade on Friday, after the release of downbeat U.S. consumer sentiment data and as the Federal Reserve’s most recent policy statement continued to weigh on the greenback.
EUR/USD eased off 1.1206, the session low, to hit 1.1303 during U.S. morning trade, still down 0.11%.
The pair was likely to find support at 1.1203, Thursday’s low and resistance at 1.1344, Thursday’s high and a one-month peak.
In a preliminary report, the University of Michigan said its consumer sentiment index fell to 90.0 in March from 91.7 the previous month, compared to expectations for an increase to 92.2.
Sentiment on the greenback remained vulnerable after the Fed left its monetary policy unchanged on Wednesday and said that it is likely to raise interest rates twice this year – and not four times, as initially estimated.
Fed policymakers said the U.S. economy faces risks from an uncertain global economy, although moderate growth and "strong job gains" would allow it to tighten policy this year.
The euro was also lower against the pound, with EUR/GBP edging down 0.17% to 0.7802.