Investing.com - The euro slipped lower against the dollar on Tuesday as concerns that the U.S. may take military action against Syria’s government supported safe haven demand.
EUR/USD hit 1.3356 during late Asian trade, the session low; the pair subsequently consolidated at 1.3360, slipping 0.08%.
The pair was likely to find support at 1.3334, the low of August 21 and resistance at 1.3408, the high of August 23.
The dollar found support after U.S. Secretary of State John Kerry said President Obama will hold Syria’s government accountable for using chemical weapons.
Meanwhile, uncertainty over how soon the Federal Reserve will start to unwind stimulus measures continued after data on Monday showed that U.S. durable goods orders fell in July, raising concerns over domestic demand.
The Commerce Department said U.S. durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The euro edged higher against the pound, with EUR/GBP inching up 0.04% to 0.8589 and was lower against the safe haven yen, with EUR/JPY down 0.41% to 131.14.
The Ifo institute was to release a report on German business climate later Tuesday. The U.S. was to publish private sector data on house price inflation, as well as a closely watched report on consumer confidence.
EUR/USD hit 1.3356 during late Asian trade, the session low; the pair subsequently consolidated at 1.3360, slipping 0.08%.
The pair was likely to find support at 1.3334, the low of August 21 and resistance at 1.3408, the high of August 23.
The dollar found support after U.S. Secretary of State John Kerry said President Obama will hold Syria’s government accountable for using chemical weapons.
Meanwhile, uncertainty over how soon the Federal Reserve will start to unwind stimulus measures continued after data on Monday showed that U.S. durable goods orders fell in July, raising concerns over domestic demand.
The Commerce Department said U.S. durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The euro edged higher against the pound, with EUR/GBP inching up 0.04% to 0.8589 and was lower against the safe haven yen, with EUR/JPY down 0.41% to 131.14.
The Ifo institute was to release a report on German business climate later Tuesday. The U.S. was to publish private sector data on house price inflation, as well as a closely watched report on consumer confidence.