Investing.com - The euro remained slightly lower against the U.S. dollar on Tuesday, after the release of mixed U.S. economic reports and as downbeat German data released earlier in the day continued to weigh on the single currency.
EUR/USD hit 1.3791 during U.S. morning trade, the pair''s lowest since April 9; the pair subsequently consolidated at 1.3804, edging down 0.12%.
The pair was likely to find short-term support at 1.3780, the low of April 9 and resistance at 1.3863, Monday''s high.
In the U.S., official data showed that consumer price inflation rose 0.2% in March, exceeding expectations for a 0.1% gain, after a 0.1% uptick the previous month.
Core consumer price inflation, which excludes food and energy, rose 0.2% last month, more than the expected 0.1% increase, after a 0.1% gain in February.
A separate report showed that the Empire State manufacturing index fell to 1.3 this month, from a reading of 5.6 in March, compared to expectations for a rise to 8.2.
The single currency came under pressure earlier, after data showed that the ZEW index for German economic sentiment fell to an eight-month low of 43.2 this month, from a reading of 46.6 in March. Analysts had expected the index to decline to 45.0 in April.
Meanwhile, investors remained cautious as the U.S. and the European Union said that they are considering further sanctions against Moscow after pro-Russian separatists on Monday ignored an ultimatum to leave occupied government buildings in eastern Ukraine.
Market participants were eyeing a meeting scheduled on Thursday in Geneva between the U.S., the EU, Ukraine and Russia, with hopes it will bring a political resolution to escalating tensions in Eastern Europe.
The euro was also lower against the pound, with EUR/GBP slipping 0.16% to 0.8250.
Also Tuesday, official data showed that U.K. consumer price inflation rose 0.2% in March, in line with expectations, after a 0.5% increase the previous month.
On a yearly basis, U.K. CPI rose 1.6% last month, in line with market expectations, after a 1.7% gain in February.
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