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Eur/Usd: Asia open $1.1994, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.1994, range $1.1987-1.2019. Europe open
$1.2007, range $1.1996-1.2016.
* Eur/Usd managed to extend its recent recovery to $1.2007 Tuesday, settled
around $1.1995 into close. 
* Rate struggled to get a toe hold back above $1.2000 early Asia, touched
$1.2001 then touched a low of $1.1987.
* Strong demand for Eur/Jpy(similar to Tuesday) took the cross above Y134.00,
lifted Eur/Usd to $1.2019.
* As demand faded rate drifted off to $1.2004 before it picked up fresh demand
ahead of Europe. 
* Rate touched $1.2014, dropped to $1.1996 before it clambered back to $1.20the
$1.2010 late morning. 
* Position adjustment trade seen as traders turned attention toward tonight's US
FOMC announcement. 
* Now rate has managed to get back above $1.2000 next hurdle for upside progress
seen at $1.2030/32.  
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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