Forex Pros – The euro slipped down against the U.S. dollar on Thursday, but remained close to a 2-month high after a Federal Reserve assessment that the economic outlook for the U.S. has "softened". EUR/USD hit 1.2710 during late Asian trade, a daily low; the pair subsequently consolidated at 1.2727, shedding 0.11%. The pair was likely to find support at 1.2522, Tuesday's low, and resistance at 1.2802, the high of May 11. The minutes of the most recent meeting of the U.S. Federal Reserve monetary policy committee indicated that members were concerned about continuing high unemployment and a slowdown in inflation. The minutes also said that most FOMC policy makers expect that the U.S. may not return to its long-term rates of economic growth, unemployment and inflation for as long as six years. Last month the Fed reiterated a pledge to keep the benchmark lending rate at around zero for “an extended period”. The euro was also down against the pound, with EUR/GBP shedding 0.06% to hit 0.8341. Later in the day, the U.S. was to publish key data on initial jobless claims.

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