Free Trial

Breaks below its Asian base of..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Breaks below its Asian base of $1.1788, then Thursday's base of
$1.1784, and extends to $1.1777 before meeting support. Rate currently trades
around $1.1779. Positions adjustments ahead of this afternoon's Jackson hole
appearances by Fed Yellen and ECB Draghi seen driving, though rate remains in a
very tight trading range. BNP note this morning suggests market is going into
the Symposium long Eur/Usd but suggest that both delegates could disappoint
market expectations by failing to provide any strong signals. BNP add that
current positions could be exposed if Fed Yellen provides a more hawkish tone
than expected, and/or Draghi mentions Eur strength(no hint of taper). 
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.