EUR/USD slides on dollar demand

FXstreet.com (London) - EUR/USD has slid through the morning session on increased dollar demand. Reaction was muted immediately following yesterday’s announcement by the Federal Reserve that it would be further tapering its monthly asset purchases. A global risk-off session overnight was driven my EM concerns as well as weak Chinese manufacturing PMIs. However, this morning as seen a resurgent USD.

Stronger than expected German jobs numbers

German unemployment numbers provided some fleeting support for the euro. The core Eurozone country added 28k jobs in January, bringing the headline unemployment rate down 0.1 percent to 6.8 percent. The numbers overshot consensus expectations of 5k jobs.

EUR/USD is currently trading at a session low of USD1.6003 in bearish territory, down 0.40 percent on the opening of USD1.3630.