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Eur/Usd: Asia open $1.1870, range.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Eur/Usd: Asia open $1.1870, range $1.1869-89. Europe open $1.1880,
range $1.1874-89.
* Recovered off its pullback low of $1.1831 Thursday to $1.1893, eased to
$1.1861 then closed around $1.1870.
* Following touch of $1.1893 recovery efforts were capped on two occasions at
$1.1889. 
* Rate edged to $1.1886 in early Asia, off opening low of $1.1869, eased to
$1.1871 before recovery was capped at $1.1889. 
* Rate eased to $1.1874 early Europe, recovery again met stiff resistance at
$1.1889, then settled above $1.1880. 
* Rate retained an underlying buoyant tone through Europe morning though traders
wary of strong dollar react to US NFP/AHE. 
* Median for NFP seen at 180k. One economist suggests below 150k to prompt
further dollar losses.
* Overall, most see the dollar open to recovery gains, would need shock release
to counter this outlook.
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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