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Eur/Usd: Asia open $1.1859, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1859, range $1.1852-90. Europe open $1.1882,
range $1.1881-1.1920.
* Sharp pullback from Friday's initial NFP react high of $1.1980 saw rate fall
back to $1.1850.
* Mix of over reaction to August NFP and ECB source comments on delayed taper
talk caused correction.
* Rate closed NY $1.1860, marked up at the Asia open to $1.1982 on react to
weekend N.Korea nuclear test.
* Rate consolidated between $1.1874-90 through the balance of Asia.
* Rate edged to $1.1888 early Europe then spiked on to $1.1904 on S.Korea report
N.Korea preparing missile launch.
* Rate dropped back between $1.1880/1.1900 before it got a late morning lift to
$1.1921
* Move looked driven in part by the upside correction in Eur/Gbp, edged to
Gbp0.9218, off Friday Gbp0.9150 low. 
* Eur remained firm late morning, focus on Thursday ECB. 
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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