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Eur/Usd: Asia open $1.1752, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1752, range $1.1737-65. Europe open $1.1761,
range $1.1761-95. 
* Eur/Usd saw a late low Friday of $1.1751 as Usd reacted positively to US Tax
Reform Bill progress. 
* The weak close in NY encouraged a move to the downside early Asia, the rate
touched $1.1737 before finding demand.
* Rate slowly recovered through the balance of the session, edged to a high of
$1.1765 ahead of Europe.
* Demand continued into Europe as the Usd continued to pare Friday gains. Rate
edged on to an eventual high of $1.1795.
* Underlying tone remained firm in late European morning trade with rate trading
around $1.1787.
* No reaction as EZ inflation data confirmed the flash release.
* A fairly quiet calendar, US NAHB House Market Index at 1500GMT the highlight. 
* Support $1.1845/35. Resistance into $1.1800.   
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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