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Eur/Usd: Asia open $1.1842, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1842, range $1.1820-44. Europe open $1.1830,
range $1.1811-33.
* End month dollar sales, along with White House personnel moves, drove Eur/Usd
to a fresh recovery high of $1.1846 Monday.
* Rate marked a high of $1.1844 in opening Asian trade then eased to $1.1820.
* Rate recovered to $1.1834 ahead of Europe in a relatively slow Asian trading
session. 
* Order driven trade in Europe saw rate extend lows to $1.1811, recover to
$1.1833 then pressed down to $1.1807. 
* The dollar moves Monday switched over to cross activity Tuesday, with Eur/Gbp
pressured lower provided added weight.  
* Little reaction to EZ Manufacturing PMI release in EZ, generally softer than
forecasts/Flash.
* US PCE at 1230GMT could provide the early NY drive ahead of ISM at 1400GMT.
* US political developments will also be 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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