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Eur/Usd: Asia open $1.1822, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1822, range $1.1813-38. Europe open $1.1830,
range $1.1824-47.
* Eur/Usd recovery off Wednesday NY low of $1.1736 extended to $1.1827 ahead of
the close($1.1823).
* Dovish tones in the FOMC Minutes(though not seen offsetting Dec hike) kept
pressure on the Usd in Asia.
* However, early downside pressure on Eur/Jpy, in a Tokyo holiday thinned
market, eased Eur/Usd to $1.1813.
* Sharp snap back in Eur/Jpy took Eur/Usd up to $1.1838, then settled around
$1.1830 into Europe. 
* Rate retained buoyancy in early Europe, managed to extend upside move to
$1.1847 on strong flash EZ PMI data. 
* German politics continue to influence, SPD said could support a Merkel
minority govt but no grand coalition. 
* US Thanksgiving holiday expected to make for thin conditions into afternoon
trade. 
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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