Investing.com – The euro was down against the yen on Tuesday, tumbling to a 3-day low following remarks by Germany's finance minister and after a military skirmish on the Korean peninsula.
EUR/JPY hit 112.92 during European afternoon trade, the pair’s lowest since November 18; the pair subsequently consolidated at 112.90, shedding 0.58%.
The pair was likely to find support at 112.49, the low of November 18 and resistance at 114.13, the high of November 19.
Earlier in the day, media outlets in Seoul reported that North Korean artillery fired dozens of shells onto a South Korean island near the disputed sea border, prompting a return of fire by the South.
Following the incident, South Korean President Lee Myung-bak called an emergency meeting of defense and security agencies and urged officials to "prevent further escalation".
Separately, German Finance Minister Wolfgang Schaeuble said the fate of the euro was at stake as European officials prepared a bailout package for Ireland. "It puts our common currency at stake," he said before adding, "We need to live up to our responsibility here".
The euro was also down against the U.S. dollar, with EUR/USD falling 0.62% to hit 1.3541.
Earlier in the day, data showed that German Gfk consumer climate rose unexpectedly in November while growth in Europe’s services and manufacturing industries also rose unexpectedly during the month.
EUR/JPY hit 112.92 during European afternoon trade, the pair’s lowest since November 18; the pair subsequently consolidated at 112.90, shedding 0.58%.
The pair was likely to find support at 112.49, the low of November 18 and resistance at 114.13, the high of November 19.
Earlier in the day, media outlets in Seoul reported that North Korean artillery fired dozens of shells onto a South Korean island near the disputed sea border, prompting a return of fire by the South.
Following the incident, South Korean President Lee Myung-bak called an emergency meeting of defense and security agencies and urged officials to "prevent further escalation".
Separately, German Finance Minister Wolfgang Schaeuble said the fate of the euro was at stake as European officials prepared a bailout package for Ireland. "It puts our common currency at stake," he said before adding, "We need to live up to our responsibility here".
The euro was also down against the U.S. dollar, with EUR/USD falling 0.62% to hit 1.3541.
Earlier in the day, data showed that German Gfk consumer climate rose unexpectedly in November while growth in Europe’s services and manufacturing industries also rose unexpectedly during the month.