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Eur/Usd: Asia open $1.1775, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1775, range $1.1751-75. Europe open $1.1770,
range $1.1740-77.
* Eur/Usd continued its corrective pullback from Thu/Fri highs of $1.1858,
touched a $1.1763 post fix low.
* Raised prospects of US tax reform underpinned both the Usd and UST yields
* Euro came under early pressure in Asia, Catalan/Spain concerns dropped rate
from near $1.1775 to $1.1751.
* Demand for Usd/Jpy on Japan Abe's super majority election win had some
downside effect but countered by Eur/Jpy demand. 
* As UST yields slipped into negative territory Usd strength started to
dissipate, Euro recovered to $1.1773. 
* Early Europe demand lifted rate to $1.1777 before momentum faded and rate
reversed.
* Rate stepped its way down to a low of $1.1740, settled around $1.1750 late
Europe morning. 
* ECB meeting Thursday, QE duration seen key over amount. 
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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