On Monday the euro slipped against the dollar and the yen, as weak Chinese economic data over the weekend raised concerns over a slowdown in the world’s largest economy.
EUR/USD was last down 0.20% to 1.2939, re-approaching the 14-month lows of 1.2858 struck early last week. The pair was likely to find support at the 1.2875 level and resistance at around 1.2980.
The euro was also lower against the yen, with EUR/JPY down 0.24% to 138.84, off Friday’s two-month highs of 139.18.
Market positive moods were hit after data on Saturday showed that Chinese industrial output slowed considerably last month. Different reports indicated that retail sales and fixed asset investment also cooled.
In August Chinese factory production rose just 6.9% annually - the slowest increase since March 2009, down from 9.0% in July.
Demand for the greenback was also firmed ahead of the upcoming Federal Reserve policy meeting on Wednesday, amid raising expectations for an early hike in U.S. interest rates.
The Fed was expected to cut its asset purchase program by another $10 billion at its meeting on Wednesday, which would keep it on track for winding up the program in October, and to start raising interest rates sometime in mid-2015.
Data on Friday showing that U.S. retail sales rose in August and another report showing that consumer sentiment rose to a 14-month high in September strengthened the view that the economic recovery is deepening.
