Investing.com - The euro hit eight-month lows against the U.S. dollar on Friday, as positive U.S. durable goods orders data lent further support to the greenback, while an earlier report on German business climate continued to dampen demand for the single currency.
EUR/USD hit 1.3432 during European afternoon trade, the pair's lowest since November 2013; the pair subsequently consolidated at 1.3441, slipping 0.16%.
The pair was likely to find support at 1.3298 and resistance at 1.3485, Thursday's high.
Official data showed that U.S. durable goods orders rose 0.7% last month, beating expectations for a 0.5% gain, after a decline of 1% in May, whose figure was revised from a previously estimated 0.9% fall.
Core durable goods orders, which exclude transportation items, advanced by 0.8% in June, compared to expectations for a 0.6% rise, after a 0.1% downtick in May, whose figure was revised from a previously estimated flat reading.
The euro came under pressure earlier, after the Ifo Institute for Economic Research reported that its German business climate index fell to a nine-month low of 108.0 this month, from a reading of 109.7 in June. Analysts had expected the index to tick down to 109.4 in July.
A separate report showed that the Gfk German consumer climate index rose to a seven-and-a-half year high of 9.0 this month, from a reading of 8.9 in June. Analysts had expected the index to remain unchanged in July.
The euro was also lower against the pound, with EUR/GBP edging down 0.15% to 0.7914.
In the U.K., preliminary data earlier showed that the gross domestic product rose 0.8% in the second quarter, in line with market expectations.