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Eur/Usd: Asia open $1.1919, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1919, range $1.1901-24. Europe open $1.1912,
range $1.1905-40.
* Early Asia saw Eur/Usd drop from $1.1922 to $1.1906, move generated by Eur/Jpy
sales prompted by N.Korea ICBM launch. 
* Recovery held at $1.1924, modest Usd strength, led by sharp reversal in
Usd/Jpy, saw the Eur/Usd ease to $1.1901.
* For balance of the session Eur/Usd consolidated within a $1.1904-18 range.
* Option expiries for today include, $1.1900(E1.86bn) and $1.2000(E2.17bn)
* Initial dip to $1.1905 early Europe, as Eur/Gbp pressed back to its Thu low of
Gbp0.8867.
* Failure for the cross to break lower allowed Eur/Usd to track cable's
recovery, edged to $1.1930.
* Dip to $1.1913 before rate spiked on to $1.1940, move led by another strong
wave of sterling buys(BOE Vlieghe comments).
* US Empire Manufacturing and US Retail Sales at 1230Gmt provide early US
session interest. 
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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