16.01.201802:58:00UTC+00Euro Drops Against Majors

Reversing direction, the euro weakened against its major counterparts in pre-European deals on Tuesday.

The euro dropped to 1.2216 against the greenback, 1.1792 against the franc and 135.34 against the yen, from its early highs of 1.2283 and 1.1828 and an 8-day high of 136.10, respectively.

The euro slipped to a 4-day low of 0.8864 against the pound, after having advanced to 0.8901 at 1:30 am ET.

The euro pared gains to 1.5195 against the loonie, 1.6776 against the kiwi and 1.5356 against the aussie, from its previous highs of 1.5257, 1.6855 and 1.5417, respectively.

If the euro weakens further, it may find support around 1.19 against the greenback, 1.16 against the franc, 134.00 against the yen, 0.87 against the pound, 1.52 against the aussie, 1.66 against the kiwi and 1.50 against the loonie.