Investing.com - The euro edged lower against the firmer dollar on Monday as widespread speculation over when the Federal Reserve will start to phase out stimulus measures continued.
EUR/USD hit 1.3321 during late Asian trade, the session low; the pair subsequently consolidated at 1.3323, dipping 0.03%.
The pair was likely to find support at 1.3250 and resistance at 1.33692, Thursday’s high.
Investors were looking ahead to the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
The euro remained supported above the 1.3300 level after data last week showed that the euro zone economy returned to growth in the second quarter, emerging from an 18-month recession.
Elsewhere, the euro was little changed against the pound and the yen, with EUR/GBP dipping 0.01% to 0.8530 and EUR/JPY inching up 0.06% to 130.15.
Japan posted a larger-than-expected trade deficit of JPY1.024 trillion in July, official data on Monday showed. Exports rose 12.2% on a year-over-year basis, boosted by the weaker yen, while imports climbed 19.6%.
EUR/USD hit 1.3321 during late Asian trade, the session low; the pair subsequently consolidated at 1.3323, dipping 0.03%.
The pair was likely to find support at 1.3250 and resistance at 1.33692, Thursday’s high.
Investors were looking ahead to the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to unwind its USD85 billion-a-month asset purchase program.
Expectations that the Fed may begin tapering as soon as September were boosted late last week after data showed that U.S. weekly jobless claims fell to an almost six year low.
The euro remained supported above the 1.3300 level after data last week showed that the euro zone economy returned to growth in the second quarter, emerging from an 18-month recession.
Elsewhere, the euro was little changed against the pound and the yen, with EUR/GBP dipping 0.01% to 0.8530 and EUR/JPY inching up 0.06% to 130.15.
Japan posted a larger-than-expected trade deficit of JPY1.024 trillion in July, official data on Monday showed. Exports rose 12.2% on a year-over-year basis, boosted by the weaker yen, while imports climbed 19.6%.