Investing.com - The euro was little changed against the dollar and the yen after the European Central Bank kept rates on hold on Thursday, as investors looked ahead to a press conference with President Mario Draghi later in the session.
EUR/USD was down 0.06% to 1.3374, off Wednesday’s lows of 1.3332, the weakest level since November 8.
The pair was likely to find support at around the 1.33 level and resistance at 1.3420.
The ECB said it was holding its main refinancing rate at 0.15%, in a widely anticipated decision.
The bank cut rates to record lows in June and cut its deposit rate into negative territory for the first time, in a bid to stave off growing deflationary pressures in the region.
Investors were awaiting Draghi’s remarks later Thursday, as concerns over the divergence in monetary policy between the ECB and its major peers continued to weigh on the single currency.
The latest data showed that the annual rate of inflation in the euro area slowed to 0.4% in July from 0.5% in June, adding to pressure on the bank.
Concerns over the economic impact of sanctions against Russia also soured sentiment towards the single currency.
Data on Thursday showed that German industrial output rose just 0.3% in June, undershooting expectations for growth of 1.3%. Germany is Russia’s largest trading partner in Europe.
The euro inched higher against the yen, with EUR/JPY easing up 0.07% to 136.73, holding above Wednesday’s eight-month lows of 136.15.
Against the pound, the euro was little changed, with EUR/GBP at 0.7933.
Sterling showed little reaction after the Bank of England kept rates on hold at 0.5% earlier Thursday.
The BoE meeting minutes are to be published in two weeks time, when investors will learn if the vote was split.