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Eur/Usd: Asia open $1.1967, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1967, range $1.1961-93. Europe open $1.1983,
range $1.1969-95.
* Corrective pullback from Friday's high of $1.2092 extended to $1.1926 at
Tuesday's NY open before rate began recovery.
* Eur/Usd edged to $1.1974, closing yesterday at $1.1967. Asia marked lows at
$1.1961 before recovery resumed. 
* Rate edged up to retest $1.1974 then spiked on to $1.1993 as the Usd came
under general sell pressure. 
* Reported Eur/Gbp supply provided the counter and left rate to bounce between
$1.1975/90 into early Europe.
* Early Eur/Gbp squeeze down to Gbp0.8983 saw Eur/Usd pressed to $1.1969 before
the cross pared losses.
* Eur/Usd rallied to a fresh intraday high of $1.1995 but again met headwind
sell interest placed toward $1.2000.
* Poor UK wage data weighed on cable, and with Eur/Gbp meeting resistance at
Gbp0.9030, pressed Eur/Usd back to $1.1979.  
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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