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Eur/Usd: Europe open $1.1792, range.....>

EURO-DOLLAR: Eur/Usd: Europe open $1.1792, range $1.1776-$1.1805 NY open
range $1.1773-$1.1815.
* Eur/Usd drifted to lows of $1.1781 in early Europe from recovery highs in Asia
of $1.1809.
* Attempts to recover were thwarted by release of weak German Industrial
Production data, though reaction partially offset by revisions. Rate eased from
around $1.1793 to $1.1788 where it met willing buyers.
* The pair extended lows through Wednesday's base of $1.1781 to $1.1778. Traders
were aware that a that a major US bank had stops placed at $1.1775, from a
recently announced trade recommendation.
* In late NY reports that members of Germany's Social Democrats had agreed to
open talks with Chancellor Angela Merkel's conservatives (BBG) gave the Eur/Usd
a lift up to $1.1815 before giving back all the gains and more. At the time of
writing the pair was hovering around intra-day lows of $1.1773. 

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