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Eur/Usd: Asia open $1.1885, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1885, range $1.1871-94. Europe open $1.1878,
range $1.1866-1.1910.
* Chatter US Tax agreement close boosted Usd Wednesday via UST yields. Eur/Usd
eased from $1.1995 to $1.1873 in NY.
* Rate recovered to $1.1888 ahead of the close, early Asia extending move to
$1.1894 in opening business. 
* Usd/Jpy demand provided fresh general Usd strength, allowed Eur/Usd to squeeze
to $1.1871 then settled around $1.1880 into Europe.
* Early Europe probed for stops sub $1.1870, touched $1.1866 before it bounced
back.
* General Eur demand saw rate lift back above $1.1900 before upside momentum
faded at $1.1910.
* Rate met support at the broken Asian high of $1.1894 then settled around
$1.1900 late Europe morning.    
* Trade through Asia and into Europe described as relatively subdued, position
adjustments main driver ahead of key US CPI.
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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