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Eur/Usd: Asia open $1.2023, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur/Usd: Asia open $1.2023, range $1.2018-89. Europe open $1.2070,
range $1.2036-92
* Volatile react to ECB Draghi press conference Thursday saw rate drop to
$1.1932 before it rallied to $1.2059.
* Early consolidation in Asia saw rate hug the $1.2020 level before another wave
of Usd sales pushed it up to $1.2089.
* Move was led by strong Usd/Jpy drop back to the Y108.05 area, where rate met
strong barrier protect demand.
* Eur/Usd eased to $1.2061 into Europe then spike to a fresh high of $1.2092 as
Usd/Jpy dropped below Y108.00. 
* Eur/Usd ran into reported reserve manager supply at the high and quickly
reversed.
* Rate met initial support at $1.2051 ahead of $1.2036 then edged back to the
$1.2050 area. 
* Source report suggesting 4 QE scenarios were discussed Thursday saw rate edge
to $1.2069, though momentum labored.  
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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