Investing.com - The euro slipped lower against the firmer dollar on Tuesday as investors positioned ahead of the outcome of the Federal Reserve’s keenly anticipated policy meeting on Wednesday. EUR/USD hit 1.3326 during late Asian trade, the session low; the pair subsequently consolidated at 1.3328, shedding 0.27%. 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. The dollar fell to four-month lows against the euro and weakened against the other major currencies last week amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year. In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve. Investors were looking ahead to the central bank’s rate statement on Wednesday amid uncertainty over the banks next move. Elsewhere, the euro was little changed against the pound, with EUR/GBP inching up 0.02% to 0.8504 and edged higher against the yen, with EUR/JPY rising 0.13% to 126.47. The ZEW Institute was to release its closely watched report on German economic sentiment later Tuesday, while the U.S. was to release official data on building permits, housing starts and consumer price inflation.

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