Investing.com – The euro slid against the U.S. dollar on Monday, snapping a 3-day rally after the leaders of the world's largest economies agreed on a timetable for halving their budget deficits within three years.
EUR/USD hit 1.2355 during late Asian trade, shedding 0.12%, after pulling back from a 1-week high of 1.2397.
The pair was likely to find resistance at 1.2563, the high of May 24, and support at 1.2168, the low of June 15.
The world leaders reached the agreement at the Group of 20 summit in Toronto on Sunday, in a signal of their determination to now stress debt reduction after enacting spending programs to counter the global financial crisis.
Meanwhile, the euro rose against the yen, with EUR/JPY advancing 0.03% to reach 110.44.
Later in the day, Germany was due to publish preliminary data on consumer price inflation, and the European Union was scheduled to release reports on money supply and private loans in the euro zone.
EUR/USD hit 1.2355 during late Asian trade, shedding 0.12%, after pulling back from a 1-week high of 1.2397.
The pair was likely to find resistance at 1.2563, the high of May 24, and support at 1.2168, the low of June 15.
The world leaders reached the agreement at the Group of 20 summit in Toronto on Sunday, in a signal of their determination to now stress debt reduction after enacting spending programs to counter the global financial crisis.
Meanwhile, the euro rose against the yen, with EUR/JPY advancing 0.03% to reach 110.44.
Later in the day, Germany was due to publish preliminary data on consumer price inflation, and the European Union was scheduled to release reports on money supply and private loans in the euro zone.