Euro deepens losses after strong U.S. data

Euro fell on Wednesday for the third straight session amid growing negative pressure on the common currency as the dollar gains on rivals following strong U.S. jobs data that bolstered the case for a U.S. rate hike.
 
EUR/USD last traded at 1.0557, down from the opening of 1.0573, with a session-high at 1.0577, and a low at 1.0538.
 
Euro's current drop comes amid growing pressure from the dollar's advance against a basket of currencies following upbeat U.S. jobs data that all but guaranteed a rate hike in the Federal Reserve's meeting next week.
 
On the other hand, mounting concerns in European markets about the French presidential elections hurt the euro as well, as the Far Right candidate Marie Le Pen competes strongly on a promise to take France out of the euro zone.
 
Earlier German data showed industrial production up 2.8% in January after falling 2.4% in December, but that failed to underpin the euro due to dollar's strength.