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Eur/Usd: Asia open $1.1587, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1587, range $1.1586-1.1606. Europe open
$1.1596, range $1.1585-1.1611. 
* Eur/Usd recovered off its low of $1.1554 through the NY session to $1.1593,
closed the day at $1.1587. 
* Recovery theme continued in Asia, rate edged to $1.1606 on reaction to a
Washington Post report suggesting US corp tax delay. 
* Rate quickly pared react gains into Tokyo, settled back between $1.1590/1.1600
through to Europe. 
* Strong Usd demand at Europe open saw rate pressed down to $1.1585 before
meeting demand via crosses.
* Strong demand for Eur/Gbp provided the drive to take rate to $1.1611 before
momentum faded. 
* Rate drifted back below $1.1600 again finding support ahead of $1.1590. 
* Slow trade in Asia continued into Europe with little in the way of data to
provide any impetus.
* Option expiries $1.1560-45(E1.33bn), $1.1600(E976mn), $1.1640(E843mn). 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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