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Forex - EUR/USD lower as Syria tensions linger

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Investing.com - The euro was lower against the dollar on Thursday as ongoing concerns over a possible military strike against the Syrian government continued to support demand for the dollar.

EUR/USD hit 1.3282 during late Asian trade, the session low; the pair subsequently consolidated at 1.3284, shedding 0.39%.

The pair was likely to find support at 1.3275, the low of August 12 and resistance at 1.3396, Wednesday's high.

Market participants remained cautious amid signs of an impending U.S. military strike against Syria, following the alleged use of chemical weapons.

On Wednesday, President Barack Obama said the U.S. has concluded that the Syrian government carried out a chemical weapons attack near Damascus, but added that he had not yet made a decision about whether to intervene militarily.

The euro remained lower after a report on Wednesday showed that the Gkf German consumer sentiment index declined to 6.9 points in September from 7.0 points in August, its first decline in eight months.

The single currency was weaker against the pound and the yen, with EUR/GBP down 0.35% to 0.8561 and EUR/JPY losing 0.15% to trade at 130.04.

Germany was to release data on employment and inflation later Thursday, while the U.S. was to publish revised data on second quarter growth and the weekly report on initial jobless claims.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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