Investing.com – The euro remained at a 5-month high against the U.S. dollar on Wednesday, following Tuesday's worse-than-expected U.S. data on consumer confidence.
EUR/USD hit 1.3596 during late Asian trade, the pair's highest since April 15; the pair subsequently consolidated at 1.3580, remaining flat against the dollar.
The pair was likely to find support at 1.3425, Monday's low and short-term resistance at 1.3665, the high of April 15.
On Tuesday, data showed that U.S. consumer confidence fell significantly more-than-expected in September as consumers saw no improvement in the labor market.
The Conference Board, a private research group, said its index of U.S. consumer sentiment fell to 48.5 after rising to a revised 53.2 in August. Analysts had expected the index to decline to 52.9 in September.
Commenting on the report, Lynn Franco, Director of the Conference Board Consumer Research Center said, "Overall, consumers’ confidence in the state of the economy remains quite grim".
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.20% to hit 0.8579.
Also Tuesday, Juergen Stark, executive board member at the European Central Bank confirmed that the institution was on track to continue phasing out some of the special liquidity measures put in place at the height of the financial crisis.
EUR/USD hit 1.3596 during late Asian trade, the pair's highest since April 15; the pair subsequently consolidated at 1.3580, remaining flat against the dollar.
The pair was likely to find support at 1.3425, Monday's low and short-term resistance at 1.3665, the high of April 15.
On Tuesday, data showed that U.S. consumer confidence fell significantly more-than-expected in September as consumers saw no improvement in the labor market.
The Conference Board, a private research group, said its index of U.S. consumer sentiment fell to 48.5 after rising to a revised 53.2 in August. Analysts had expected the index to decline to 52.9 in September.
Commenting on the report, Lynn Franco, Director of the Conference Board Consumer Research Center said, "Overall, consumers’ confidence in the state of the economy remains quite grim".
Meanwhile, the euro was down against the pound, with EUR/GBP shedding 0.20% to hit 0.8579.
Also Tuesday, Juergen Stark, executive board member at the European Central Bank confirmed that the institution was on track to continue phasing out some of the special liquidity measures put in place at the height of the financial crisis.