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Eur/Usd: Asia open $1.1884, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1884, range $1.1872-97. Europe open $1.1879,
range $1.1867-1.1905. 
* Eur/Usd retreat from Aug29 high of $1.2070 continued through Wednesday to
$1.1882 into the close. 
* Usd recovery was given a boost on back of stronger than forecast US ADP and Q2
GDP revision.
* Early consolidation in Asia saw rate hold tight range around $1.1895 before
UST yields pressed rate to $1.1872. 
* Early Europe extended this downside correction to $1.1867 before bouncing back
on Eur cross demand.
* End month Eur/Gbp led the recovery, allowed Eur/Usd to edged to $1.1903 before
move faltered.
* Rate eased off to settle back around $1.1890 ahead of EZ Flash CPI release. 
* Stronger than forecast headline CPI (1.5% vs 1.4%) spiked rate to $1.1905 .
* Newswire incorrect pick up of core CPI, showing 1.3%, aided spike but on
realization dropped rate back to $1.1886. 
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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