Forex Pros – The euro extended losses against the U.S. dollar on Thursday, hitting a 2-week low amid mounting impatience over European leaders' failure to produce a rescue plan for debt-laden Greece. EUR/USD hit 1.3332 during European morning trade, its lowest since April 8; the pair subsequently consolidated around 1.3344, shedding 0.34%. The pair was likely to find support at 1.3267, the low of March 25, and resistance at 1.3692, the high of April 12. The euro's decline versus the dollar came despite upbeat data on the euro zone manufacturing and services sectors. Earlier in the day, surveys showed that in April, the euro zone's manufacturing sector expanded at its fastest pace since June 2006, far quicker than expected, and the services sector grew at its fastest pace in 30 months. Meanwhile, the euro slipped versus sterling, with EUR/GBP dropping 0.27% to reach 0.8666. Also Thursday, banking giant Goldman Sachs said Greece was likely to cut or delay payments to bond investors even as the country negotiates a bailout package with the European Commission and International Monetary Fund, Bloomberg reported. Later in the day, the United States was set to release key reports on initial jobless claims and existing home sales.

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