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Eur/Usd: Asia open $1.1787, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1787, range $1.1787-1.1817. Europe open
$1.1802, range $1.1768-1.1822.
* Recovery off Wednesday's low of $1.1730 extended to $1.1805 in NY before close
at $1.1787.
* Asia marked its low at $1.1787 at the open then edged up pre Tokyo on reported
retail Eur/Jpy demand. 
* Stops triggered on break of $1.1810 allow rate to advance to $1.1817 before
momentum faded. 
* Rate drifted lower before it settled around $1.1800 into Europe. 
* Rate touched $1.1795 then rallied to $1.1822(61.8% $1.1880-1.1730) in a move
led by strong Eur/Jpy demand.
* Sharp reversal in Eur/Jpy dropped Eur-Usd down to $1.1768 but rate managed to
edge back above $1.1800 by late morning.
* Spain/Catalonia concerns, along with equity market slippage(30-yr anniversary
of Black Monday) seen as market drivers. 
* US Weekly Jobless Claims and Phila Fed provide data interest in NY.  
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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