Forexpros – The euro slid lower against the U.S. dollar on Thursday, as investors remained cautious ahead of a policy-setting meeting by the European Central Bank later in the day.
EUR/USD hit 1.4051 during late Asian trade, the daily low; the pair subsequently consolidated at 1.4066, slipping 0.22%.
The pair was likely to find support at 1.3991, Wednesday’s low and resistance at 1.4172, Monday’s high.
Investors were concerned that a recent string of soft euro zone data would prompt ECB President Jean-Claude Trichet to signal a pause in the bank’s monetary tightening cycle.
Elsewhere, German Finance Minister Wolfgang Schaeuble said earlier that Germany remained ready to assist Greece, but added that it was up to Greece to make sure it fulfilled the conditions required to receive its next tranche of financial aid and remain in the euro zone.
The euro remained supported by expectations that the Federal Reserve may announce fresh stimulus measures to shore up U.S. growth ahead of a speech by Fed Chairman Ben Bernanke later Thursday.
The euro edged higher against the pound, with EUR/GBP easing up 0.11% to hit 0.8826.
Also Thursday, the U.S. was to publish its weekly report on initial jobless claims, while U.S. President Barack Obama was to make a speech to Congress to propose new employment measures.
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