Investing.com – The euro plunged to a fresh 14-month low against the U.S. dollar on Thursday, dipping below the 1.27 mark as European Central Bank President Jean-Claude Trichet said the euro zone's growth outlook was subject to significant uncertainty.
EUR/USD hit 1.269 during European afternoon trade, the pair's lowest since March 11, 2009; the pair subsequently consolidated around 1.2725, shedding 0.7%.
The pair was likely to find support at 1.2456, the low of March 4 last year, and resistance at 1.3679, the high of April 14.
Also Thursday, the ECB left its benchmark interest rate unchanged, in a bid to create some security amid fears that Greece's debt crisis will spread across the euro zone.
The euro also slid versus sterling on Thursday, with EUR/GBP dropping 0.12% to hit 0.8478.
Earlier in the day, Pimco, the world's largest bond house, launched a blistering attack on the credit ratings agencies, accusing them of allowing the crisis to occur because of their "blind faith" in sovereign solvency.
EUR/USD hit 1.269 during European afternoon trade, the pair's lowest since March 11, 2009; the pair subsequently consolidated around 1.2725, shedding 0.7%.
The pair was likely to find support at 1.2456, the low of March 4 last year, and resistance at 1.3679, the high of April 14.
Also Thursday, the ECB left its benchmark interest rate unchanged, in a bid to create some security amid fears that Greece's debt crisis will spread across the euro zone.
The euro also slid versus sterling on Thursday, with EUR/GBP dropping 0.12% to hit 0.8478.
Earlier in the day, Pimco, the world's largest bond house, launched a blistering attack on the credit ratings agencies, accusing them of allowing the crisis to occur because of their "blind faith" in sovereign solvency.