Investing.com - The euro trims losses against the U.S. dollar on Friday, but remained under pressure as concerns over the Greek debt situation continued to weigh and as a strong U.S. consumer sentiment report supported demand for the greenback.
EUR/USD eased off of 1.1152, the pair's lowest since June 8, to hit 1.1223 during U.S. morning trade, still down 0.32%.
The pair was likely to find support at 1.1080, the low of June 8 and resistance at 1.1332, Thursday's high.
The euro remained under pressure after the International Monetary Fund pulled out of Greek debt talks on Thursday as it accused Athens of failing to compromise over labour market and pension reforms.
Greek Prime Minister Alexis Tsipras was scheduled to resume talks in Brussels with European commission President Jean-Claude Juncker on Friday. However, such a meeting is now in doubt.
A government spokesman said Greece's negotiating team is "ready" to intensify efforts to wrap up a deal "even in the next 24 hours."
Meanwhile, in a preliminary report, the University of Michigan said its consumer sentiment index rose to 94.6 this month from a reading of 90.7 in May, compared to expectations for an increase to 91.5.
The UoM also said that its inflation expectations for the next 12 years ticked down to 2.7% in June from 2.8% in May.
The reports came after the U.S. Department of Labor said that its producer price index rose 0.5% in May, just above expectations for a 0.4% uptick, after a 0.4% slip the previous month.
Year-on-year, producer prices declined by 1.1% last month, in line with expectations, after a 1.3% drop in April.
Core producer prices, which exclude food and energy, ticked up 0.1% in May, in line with market expectations and following a 0.2% fall in April.
The euro was also lower against the pound, with EUR/GBP slipping 0.19% to 0.7236.