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Eur/Usd: Asia open $1.1609, range......>

MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1609, range $1.1597-1.1624. Europe open
$1.1612, range $1.1588-1.1617.
* Friday's reversal of initial NFP rally to $1.1690 saw rate drop to $1.1599,
closed at $1.1610.
* Kuroda dovish comments spiked Usd/Jpy higher in Asia, eased Eur/Usd down to
$1.1597 before it recovered to $1.1624. 
* Rate drifted off to $1.1606 before settling back around $1.1610 into Europe. 
* Release of strong Germany Factory Orders data failed to boost the Eur and kept
focus on the downside.
* Rate probed under the Asian low to $1.1596 before it recovered to $1.1616. 
* Sales of Eur/Jpy and Eur/Gbp pressed rate to an extended low of $1.1588 but
managed to settle back above $1.1600.
* Data released Friday showed asset managers added to longs as of Oct31, longest
positioning since 2006.
* Little reaction seen from EU Services/Composite PMI releases.    
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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