On Tuesday euro slipped to lower levels versus the US dollar, as the greenback managed to regain positions against its peers, after yesterdays weak manufacturing data from United States, which caused dollar to plunge.
EUR/USD pair slid to 1.3051 during Asian trade, currently the session low, after which consolidation followed at 1.3060. The pair was expected to receive support at Monday low, 1.2954, while resistance was to be met at Monday high, 1.3106.
US dollar lost ground against its major peers yesterday after disappointing US manufacturing data came out and showed the sector contracted for the first time in six months during May. The Institute for Supply Management (ISM) announced that its index declined to 49.0 in May, lowest since June 2009 and below the 50.0 level, which divides expansion from contraction. With this report released, expectations were dimmed, that FED would begin scaling back its easing program later this year.
Meanwhile, euro lost ground slightly against the British pound, with EUR/GBP down by 0.05% to 0.8531. Positions were gained versus the yen, as EUR/JPY rose to 130.83, up by 0.55% for the day.
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