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Eur/Usd: Asia open $1.1729, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1729, range $1.1718-48. Europe open $1.1736,
range $1.1720-41.
* Eur/Usd recovered off its initial US NFP/AHE react low of $1.1670 to $1.1739
on weekend risk positioning. 
* This recovery move was prompted by comments suggesting N.Korea close to
testing a long range missile.
* Rate was marked down to $1.1718 in early Asia then recovered to a high of
$1.1748.
* Further risk positioning was seen prompted by the US/Turkey visa spat.
* Rate eased to $1.1734 into Europe, spiked back to $1.1741 on strong Germany IP
but these gains were quickly pared.
* Eur/Gbp was pressed lower by general sterling demand following weekend support
for PM May. 
* Eur/Usd was pressed back to $1.1720 where it again met decent demand before it
edged to $1.1740.
* US and Canada holidays made for a subdued trading day.  
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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