EUR / USD Sliding Lower After IMF Stopped On Greek Debt Talks
EUR / USD hit 1.1218 during late Asian trade, the session low and the pair subsequently consolidated at 1.1224, shedding 0.28%. The pair was likely to find support at 1.1080, the low of September 8 and resistance at 1.1332, Thursday's low.
The single currency fell over 1% against the dollar on Thursday as the IMF withdrew from the talks after accusing Athens Greek debt failed to compromise on the reform of the labor market and pensions. The IMF said his negotiators had stopped the talks in Brussels after reaching an impasse and will return to Washington.
A government spokesman said the Greek negotiating team was "ready" to intensify efforts to wrap up a deal "even in the next 24 hours." Meanwhile, demand for the dollar remained supported as investors eyed a preliminary report on US consumer sentiment later in the day, for more indications Further on economic power.
But at the same time the US Commerce Department said that retail sales rose 1.2% last month, beating expectations for a gain of 1.1%, and core retail sales, which exclude automobile sales, rose 1.0% in May, compared with forecasts for an increase of 0.7%.
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