Free Trial

Eur/Usd: Asia open $1.1766, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1766, range $1.1764-81. Europe open $1.1764,
range $1.1744-71. 
* Recovery off Tuesday's low of $1.1736 extended to $1.1781 in early Asia/Tokyo
open before move stalled then reversed.
* Rate drifted back to $1.1762 in a generally subdued Asian trading session
(Singapore and Malaysia closed).
* Rate touched $1.1759 early Europe, jumped back to $1.1771 before it rate came
under a fresh wave of selling.
* UST yields pushed higher in early Europe and provided the Usd with a general
boost, pressed rate back to $1.1748. 
* Eur/Gbp demand helped lift rate back to $1.1769 before heavier sales emerged
which eased rate through $1.1736 to $1.1730. 
* Recovery efforts remained very shallow late morning, kept focus on the
downside. 
* ECB meeting next Thursday and longer duration QE taper getting more airplay.
* Usd remains directional vie UST yields.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.