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Eur/Usd: Asia open $1.1808, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1808, range $1.1795-1.1828. Europe open
$1.1814, range $1.1813-45.
* Eur/Usd continued to recover from its Friday post NFP/AHE low of $1.1670
through a returned US market Tuesday to $1.1825. 
* Catalan situation eased on mediation hopes and US tax reform difficulties
acted to weigh on the Usd. 
* Rate settled around $1.1810 into Tuesday's close. Early Asian trade held a
tight range around $1.1810.
* General Usd sales emerged in Tokyo which edged rate to $1.1828. Rate then
dropped to $1.1795 where it picked up fresh demand.
* Rate recovered to $1.1820 ahead of Europe, dipped to $1.1813 before it rallied
up to challenge its 21-dma at $1.1834. 
* Rejection saw rate back at $1.1814 before another wave of buying took it on to
$1.1845(50-dma). 
* Sharp pullback in Eur/Jpy provided weight to press Eur/Usd down to $1.1815.
* FOMC minutes at 1800GMT in focus.    
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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