Free Trial

Back above $1.2400, after rate had......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Back above $1.2400, after rate had squeezed down to $1.2388 in
early Europe, holding just off its earlier Asian low of $1.2385. Rate currently
trades around $1.2406. Moves seen Usd led as Usd/Jpy eases away from its early
Europe high of Y109.06, having broken above the Y109.00 level in opening trade.
Rate currently trades around Y108.90. Early trade was seen hunting down Asian
stops with rates now seen settling down. A fairly quiet day data wise with main
focus on Trump's State of the Union talk on Tuesday, followed by Yellen's last
FOMC Wednesday (no change widely expected but pointers toward a hike in March
seen as the call as long economic releases continue to support). EZ Flash CPI
Wednesday as well as month end flows, which models suggest should provide
another round of Usd sales. Support $1.2388/85, $1.2364. Resistance $1.2445/50,
stronger, option linked offers noted at $1.2480 with focus set on Wednesday's
large $1.2500 strike expiry (E3.46bn).  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.