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Eur/Usd: Asia open $1.1896, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1896, range $1.1890-1.1911. Europe open
$1.1906, range $1.1868-1.1909. 
* Eur/Usd extended its recovery off Friday's low of $1.1850 to $1.1922 in US
holiday thinned trade Monday.
* Early Usd/Jpy demand boosted the Usd and pressed Eur/Usd to an early low of
$1.1890.
* Tokyo entry countered, sold back into Usd/Jpy rise which lifted Eur/Usd back
above $1.1900.
* Risk off Usd sales seen on reports of N.Korea moving one of its missiles for
possible Sep9 launch. 
* Usd/Jpy sold down to Y109.21 which took Eur/Usd to a high of $1.1911.
* Early Europe pressed Eur/Usd down to $1.1892, bounced to $1.1909 then came
under heavier sell pressure. 
* Stops below $1.1890/89, Eur/Jpy Y130.00 and Gbp0.9200 saw rate pressed to
$1.1868.
* Soft services PMI data cited but Eur was under pressure ahead of full release.
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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