The euro fell to fresh nine month lows against
the dollar on Wednesday, as weak euro zone economic data and
renewed concerns over the crisis in Ukraine pressure pressured the
single currency lower. EURUSD was down 0.26% to 1.3333, the weakest level since
November 8.
The pair was likely to find support at around the 1.3333 level
and resistance at 1.3377.
The euro came under renewed selling pressure after official data showed that Italy unexpectedly slid back into a recession in the second quarter, as gross domestic product contracted by 0.2%. Economists had forecast growth of 0.2%.
The economy contracted at an annual rate of 0.3% in the three months to June, compared to expectations for increase of 0.1%, after shrinking 0.4% in the first quarter.
