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Eur/Usd: Asia open $1.1735, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1735, range $1.1730-46. Europe open $1.1743,
range $1.1692-1.1758.
* Eur/Usd recovered off Tuesday low of $1.1687 to $1.1743, settled around
$1.1735 into close. 
* Move lower seen as reaction to strong US data, then countered and reversed on
Eur/Jpy buys. 
* Eur/Jpy demand continued into Asia, Japanese noted buyers in Eur/Usd from
around $1.1730 taking it up to $1.1746. 
* Rate settled around $1.1740 into Europe. Early squeeze took rate down to
$1.1724 before a sharp bounce back.
* Eventual break of Y130.00-04 provided the drive that took rate up to $1.1758.
* Reuters source story suggested no policy change announcement at Jackson Hole
from ECB Draghi reversed Eur rally.
* Eur/Jpy dropped from Y130.40 to Y129.60, took Eur/Usd from above $1.1750 to
$1.1692.
* Eur pared part of its react losses, Eur/Usd edged to $1.1739.
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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