Investing.com - The euro was steady against the dollar on Tuesday as investors turned cautious ahead of the upcoming Federal Reserve meeting minutes on Wednesday.
EUR/USD was at 1.3601, holding above Monday’s low of 1.3575.
The pair was likely to find support at 1.3540 and resistance at 1.3610, Friday’s high.
The dollar rose to more than one week highs against the single currency on Monday after a strong U.S. jobs report on Thursday sparked speculation that the Fed could bring forward its timetable for raising interest rates.
The U.S. economy added a larger-than-forecast 288,000 jobs last month, while the unemployment rate ticked down to 6.1%, the lowest in almost six years.
But the dollar’s gains against the other major currencies paused on Tuesday due to the view that the Fed will stick to its dovish stance on monetary policy amid concerns over ongoing slow growth in inflation and wages.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was at 80.31, off Monday’s highs of 80.36.
The euro remained under pressure after data on Monday showed that German industrial output unexpectedly dropped in May, fuelling concerns over the outlook for the broader euro zone economy.
The euro edged lower against the yen, with EUR/JPY dipping 0.08% to 138.46, off Thursday’s one-month highs of 139.26.
Elsewhere, the dollar drifted lower against the Japanese currency, with USD/JPY at 101.83, off last Thursday’s two-week high of 102.25.