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Eur/Usd: Asia open $1.1739, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1739, range $1.1731-62. Europe open $1.1736,
range $1.1723-48.
* Recovery off the Jul27 pullback low of $1.1650 continued through Friday to
$1.1764, closed the week around $1.1750.
* Rate was marked down to $1.1736 at the Asia open before it recovered to
$1.1762 ahead of Tokyo. 
* Japanese banks sold Eur/Jpy at their open, took cross down to Y129.55, Eur/Usd
to $1.1731 ahead of Europe.
* Strong demand into Europe popped rate back up to $1.1748 but quickly reversed
as momentum faded. 
* Rate dropped to an extended low of $1.1723 then consolidated between
$1.1725/30. 
* Demand picked up ahead of EZ Flash CPI, rate edged to $1.1731 with stronger
than forecast Core taking it on to $1.1744.
* Rate retained a buoyant tone late morning, held just off data react highs. 
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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