Investing.com - The dollar was steady against the euro and the yen on Wednesday as investors turned their attention to Thursday’s U.S. nonfarm payrolls report and the European Central Bank’s monthly policy meeting.
EUR/USD was at 1.3677, off Tuesday’s six-week high of 1.3699.
The pair was likely to find support at 1.3650 and resistance at the 1.3700 level.
Sentiment on the euro was dented by concerns that the ECB could voice concerns over the currency’s strength at its post-policy meeting press conference on Thursday, amid fears over persistently low levels of inflation in the euro zone.
Investors were also awaiting the U.S. nonfarm payrolls report, due to be released one day early on Thursday ahead of the Independence Day holiday, for further indications on the strength of the economic recovery.
The greenback has come under pressure since data last week showing a 2.9% economic contraction in the first quarter bolstered expectations that the Federal Reserve will keep rates on hold for an extended period.
The dollar was almost unchanged against the yen, with USD/JPY edging up 0.03% to 101.54, holding above Monday’s six-week low of 101.22.
Elsewhere, EUR/JPY was at 138.87, unchanged for the day.