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Eur/Usd: Asia open $1.1882, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1882, range $1.1851-88. Europe open $1.1868,
range $1.1836-79. 
* US Senate passing of the US Tax Bill late Friday led to strong Usd demand in
early Asia.
* Eur/Usd retested Friday's $1.1851 low, extending the pullback from
$1.1935(Flynn headlines) before it edged back to $1.1875.
* Rate dipped back to $1.1856 before it settled around $1.1870 ahead of the
European open. 
* Europe opened with strong Usd demand that pressed rate through $1.1851 and on
to $1.1836.
* Buyers emerged into the dip which saw rate recover to $1.1879 before it
settled back around $1.1855. 
* Usd retained an underlying buoyant tone across the board late morning, though
was off best levels. 
* US Factory Orders and Durable Goods Orders provide the event risks for the
session ahead.
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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