Investing.com – The euro was down against the U.S. dollar on Thursday, falling to a session low amid ongoing uncertainty over Greece’s planned referendum on its bailout deal.
EUR/USD hit 1.3657 during late Asian trade, the session low; the pair subsequently consolidated at 1.3667, shedding 0.56%.
The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday’s high.
On Wednesday, German Chancellor Angela Merkel and French President Nicolas Sarkozy told Greece it will not receive any more financial aid until it decides it wants to remain within the euro zone and warned that Greece will surrender all European aid if it votes against the bailout package agreed upon last week.
Greek Prime Minister George Papandreou, who faces a confidence vote on Friday, said the country “needs a wider consensus” for the bailout terms and expressed confidence it will vote to remain in the single currency bloc.
The dollar remained supported after the Federal Reserve said Wednesday that “economic growth strengthened somewhat in the third quarter,” but also warned that “significant downside risks” remain to the outlook.
The euro was also lower against the pound, with EUR/GBP shedding 0.24% to hit 0.8598.
Later in the day, the European Central Bank was to hold its first policy setting meeting chaired by new head, Mario Draghi. Meanwhile, the U.S. was to produce its weekly report on initial jobless claims as well as a report on service sector activity from the Institute of Supply Management.
EUR/USD hit 1.3657 during late Asian trade, the session low; the pair subsequently consolidated at 1.3667, shedding 0.56%.
The pair was likely to find support at 1.3582, the low of October 12 and resistance at 1.3827, Wednesday’s high.
On Wednesday, German Chancellor Angela Merkel and French President Nicolas Sarkozy told Greece it will not receive any more financial aid until it decides it wants to remain within the euro zone and warned that Greece will surrender all European aid if it votes against the bailout package agreed upon last week.
Greek Prime Minister George Papandreou, who faces a confidence vote on Friday, said the country “needs a wider consensus” for the bailout terms and expressed confidence it will vote to remain in the single currency bloc.
The dollar remained supported after the Federal Reserve said Wednesday that “economic growth strengthened somewhat in the third quarter,” but also warned that “significant downside risks” remain to the outlook.
The euro was also lower against the pound, with EUR/GBP shedding 0.24% to hit 0.8598.
Later in the day, the European Central Bank was to hold its first policy setting meeting chaired by new head, Mario Draghi. Meanwhile, the U.S. was to produce its weekly report on initial jobless claims as well as a report on service sector activity from the Institute of Supply Management.