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Eur/Usd: Asia open $1.1840, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1840, range $1.1835-49. Europe open $1.1846,
range $1.1829-54.
* Eur/Usd edged to a high of $1.1849 in NY Tuesday before it settled around
$1.1840 into the close. 
* Reports suggested move related to funding, Usd's in demand last week for this
purpose, easing this week on better Usd supply. 
* Rate marked a low of $1.1835 in early Asia before it slowly nudged back up to
retest that $1.1849 level into Europe.
* Early Europe pressed rate to a fresh low of $1.1829 before strong Eur demand
lifted rate to a new high of $1.1854. 
* Eur/Jpy managed to clear reported offers around Y134.00 in the move, while
Eur/Gbp edged back up to Gbp0.88545. 
* As Eur demand faded crosses eased, Eur/Jpy back below Y134.00 and Eur/Gbp to
Gbp0.8835, took Eur/Usd back to $1.1836.
* Traders did note in Asia decent sell interest in place through to $1.1880.
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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