Investing.com – The euro slipped to a daily low against the U.S. dollar on Tuesday, remaining under pressure amid concerns that Greece’s sovereign debt crisis could spread to infect Italy and Spain.
EUR/USD hit 1.4069 during later Asian trader, the daily low; the pair subsequently consolidated at 1.4089, sliding 0.14%.
The pair was likely to find support at 1.3950, the low of July 13 and resistance at 1.4198, the high of July 15.
Concerns over sovereign debt contagion to Italy and Spain escalated on Monday, as Italian and Spanish 10-year bond yields climbed higher and their spreads over benchmark German bonds rose to the highest levels since the inception of the single currency.
Senior euro zone officials were to meet later in the week to attempt to reach a consensus on a second Greek bailout amid ongoing uncertainty over the role of private Greek bondholders in sharing the cost of the bailout.
The euro was also lower against the pound, with EUR/GBP shedding 0.26% to hit 0.8765.
Later Tuesday, the ZEW Centre for Economic Research was to publish a report on German economic sentiment, while the U.S. was to publish government data on building permits and housing starts.
EUR/USD hit 1.4069 during later Asian trader, the daily low; the pair subsequently consolidated at 1.4089, sliding 0.14%.
The pair was likely to find support at 1.3950, the low of July 13 and resistance at 1.4198, the high of July 15.
Concerns over sovereign debt contagion to Italy and Spain escalated on Monday, as Italian and Spanish 10-year bond yields climbed higher and their spreads over benchmark German bonds rose to the highest levels since the inception of the single currency.
Senior euro zone officials were to meet later in the week to attempt to reach a consensus on a second Greek bailout amid ongoing uncertainty over the role of private Greek bondholders in sharing the cost of the bailout.
The euro was also lower against the pound, with EUR/GBP shedding 0.26% to hit 0.8765.
Later Tuesday, the ZEW Centre for Economic Research was to publish a report on German economic sentiment, while the U.S. was to publish government data on building permits and housing starts.