Investing.com - The euro slipped lower against the dollar on Wednesday as escalating geopolitical tensions between the U.S. and Syria continued to underpin demand for safe haven assets.
hit 1.3374 during late Asian trade, the session low; the pair subsequently consolidated at 1.3377, slipping 0.12%.
The pair was likely to find support at 1.3321, Tuesday’s low and resistance at 1.3426, the high of August 21.
Market sentiment was hit by growing expectations for U.S. military strikes against Syria’s government. U.S. Vice-President Joe Biden said Tuesday there is "no doubt" that the Syrian government used chemical weapons against civilians and added that it must be held accountable.
The dollar also found support as concerns over the timing of a reduction in Federal Reserve stimulus eased after data on Tuesday showed that U.S. consumer confidence rose more than expected in August, hitting the highest level since January 2008.
The Conference Board said its index of consumer confidence rose to 81.5 in August from an upwardly revised 81.0 in July. Analysts had expected the index to tick down to 79.0.
Elsewhere, the euro was slightly higher against the pound and the yen, with easing up 0.12% to 0.8625 and climbing 0.16% to 130.15.
The U.S. was to release data on pending home sales later Wednesday.