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Eur/Usd: Asia open $1.1874, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1874, range $1.1817-76. Europe open $1.1850,
range $1.1845-62. 
*Eur/Usd opened Asia toward the upper side of Thursday's $1.1849-90, where
consolidation was largely the theme.
*Reaction to the Catalan election result, pro-independence parties claiming
victory, saw Eur/Usd ease from $1.1876 to $1.1865.
*German ForMin Gabriel warning a German minority govt could cause instability in
the EZ pressed rate from $1.1860's to $1.1817.   *Liquidity reported poor and
exaggerated the move. Eur/Jpy breaking Y134.45 also added weight as it traded
down to Y133.91.
*Recovery capped at $1.1852 ahead of Europe before early Europe demand lifted
rate on to $1.1862.
*Eur/Gbp break back below Gbp0.8860 saw Eur/Usd rest back toward $1.1845 in late
morning trade. 
*Support $1.1810/05 (50% $1.1718-$1.1902, 100-dma). Asia's high of $1.1876
provides resistance
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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