Eur/Usd: Asia open $1.1642, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1642, range $1.1639-55. Europe open $1.1646,

range $1.1623-62.

* Eur-Usd opened Asia toward upper side of Thursday's $1.1586-1.1655 range.

* Broad-based Usd weakness was the theme after suggested delay in the proposed

corporate tax cuts to 2019.

* As the 16 pip range would indicate, Asia session was a low-key affair.

* Sharp move higher in UST yields into Europe provided a general boost for the

Usd, pressed rate down to $1.1623. 

* Initial recovery faltered at $1.1642 before a stronger recovery from $1.1629

took rate to $1.1662 late morning. 

* Offers placed at $1.1662(38.2% $1.1837-$1.1554, 200-week ma) capped move but

underlying tone remained firm. 

* A break of $1.1662 to expose reported model sell interest placed at $1.1680/85

ahead of next technical level at $1.1690. 

* Support remains into $1.1620 ahead of $1.1600. 

* ECB Mersch speaks at 1230GMT. ECB Draghi speaks in Milan Saturday.