Investing.com - The euro was little changed against the dollar on Monday as investors awaited the Federal Reserve’s upcoming rate setting meeting later in the week.
EUR/USD hit 1.3358 during European afternoon trade, the session high; the pair subsequently consolidated at 1.3342, edging up 0.01%.
The pair was likely to find support at 1.3277, the low of June 13 and resistance at 1.3389, the high of June 13 and a four-month high.
Investors remained cautious ahead of the Fed’s policy statement on Wednesday amid uncertainty over the bank’s next move.
The dollar weakened against the other major currencies last week amid growing expectations that the U.S. central bank will to start to unwind its bond purchasing program later this year.
Official data on Monday showed that the euro zone posted a smaller than forecast trade surplus of EUR16.1 billion in April. Exports fell by 0.8% from a month earlier, while rose by 0.5%.
The single currency was higher against the yen, with EUR/JPY rising 0.58% to 126.36 and was lower against the pound, with EUR/GBP sliding 0.11% to 0.8483.
