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Eur/Usd: Asia open $1.1677, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1677, range $1.1671-94. Europe open $1.1685,
range $1.1685-1.1717.
* The $1.1650 level held the base Thursday, after rate had pulled back from
earlier high of $1.1777.
* This hold allowed rate to recover (NY recovery to $1.1689, dip to $1.1671
ahead of close).
* Recovery continued early Asia to $1.1692, dipped again to $1.1671 before it
picked up stronger demand. 
* Rate trade to $1.1694 pre Europe, finding extra legs into the new session to
$1.1701. 
* Dip to $1.1688 before release of stronger than forecast Saxony CPI took rate
to $1.1715.
* Other German states also released strong CPI data and rate eventually clawed
its way up to $1.1717.  
* Rate remained firm late morning, Germany CPI looks to be released early and
after state releases expected strong. 
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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