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Eur/Usd: Asia open $1.1946, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1946, range $1.1921-55. Europe open $1.1940,
$1.1915-56.
* Disappointing US data Friday countered Eur/Usd's recovery,rate eased From
$1.1987 to $1.1930, settled around $1.1950 into close.
* Rate was marked down at Asian open as risk off positions pared following an
uneventful weekend/Praet comments. 
* As full Asia(minus Tokyo due to holiday) settled in rate recovered to $1.1955,
then eased off to $1.1938 into Europe. 
* Usd came under general pressure early Europe and allowed for a push up to
$1.1956 before reversal.
* Usd correction pressed rate through the early Asia low of $1.1921 to $1.1915
before it recovered to $1.1940.
* Confusion on EZ CPI release allowed for an edge to $1.1946 before rate settled
back around $1.1940.
* US FOMC Wednesday provides main focus following last week's strong US CPI
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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