Investing.com - The euro slipped lower against the broadly stronger dollar on Tuesday as expectations for a strong U.S. economic recovery bolstered investor demand for the greenback.
EUR/USD hit 1.3012 during late Asian trade, the session low; the pair subsequently consolidated at 1.3016, shedding 0.23%.
The pair was likely to find support at 1.2954, Friday’s low and a three-month low and resistance at 1.3100, the high of March 1.
The dollar remained stronger after data on Friday showed that the U.S. economy added significantly more jobs than forecast in February, with the unemployment rate falling to a four-year low of 7.7%.
The robust data fuelled speculation over an earlier-than-expected end to the Federal Reserve’s easing program.
The euro remained under pressure amid concerns over the economic outlook for the region, while worries over ongoing political uncertainty in Italy also weighed.
The euro was lower against the pound and the yen, with EUR/GBP dipping 0.08% to 0.8738 and EUR/JPY down 0.14% to 125.44.
Earlier Tuesday, the minutes of the Bank of Japan’s February meeting showed that some policymakers said bond purchases could be considered as an option for further monetary easing.
