Investing.com – The euro sank to a new 1-year low against the U.S. dollar on Wednesday, breaking below the key 1.3 mark on fears a bailout of Greece will not prevent the country's debt crisis from spreading to other euro zone nations.
EUR/USD hit 1.2936 during late Asian trade, the pair's lowest since April 22, 2009; the pair subsequently consolidated around 1.2955, shedding 0.25%.
The pair was likely to find support at 1.2456, the low of March 4, 2009, and resistance at 1.3413, the high of April 27.
Meanwhile, Greek workers declared a general strike on Wednesday, halting flights, trains and ferries and paralyzing public services, to protest harsh austerity measures to which the government agreed in return for the EUR 110 billion bailout.
The single European currency also slumped against sterling, hitting an 8-month low at 0.8554; EUR/GBP subsequently consolidated at 0.8557, dropping 0.22%.
Later in the day, the market research firm Markit was due to publish a report on the euro zone services sector. The payroll processing firm ADP, meanwhile, was set to release key data on U.S. nonfarm employment change.
EUR/USD hit 1.2936 during late Asian trade, the pair's lowest since April 22, 2009; the pair subsequently consolidated around 1.2955, shedding 0.25%.
The pair was likely to find support at 1.2456, the low of March 4, 2009, and resistance at 1.3413, the high of April 27.
Meanwhile, Greek workers declared a general strike on Wednesday, halting flights, trains and ferries and paralyzing public services, to protest harsh austerity measures to which the government agreed in return for the EUR 110 billion bailout.
The single European currency also slumped against sterling, hitting an 8-month low at 0.8554; EUR/GBP subsequently consolidated at 0.8557, dropping 0.22%.
Later in the day, the market research firm Markit was due to publish a report on the euro zone services sector. The payroll processing firm ADP, meanwhile, was set to release key data on U.S. nonfarm employment change.