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EUR/USD has stuck to a tight range in...>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD has stuck to a tight range in Asia-Pacific hours and last
deal 20 pips or so lower at $1.1570, hovering around session lows.
- A deluge of ECB rhetoric headlined by ECB President Draghi reiterated the
ECB's patient stance/outlook on Tuesday, with reference to the optionality
afforded via last week's statement apparent. This weighed on the single
currency, but EUR/USD didn't breach $1.1510 (YtD low) and managed a modest
recovery.
- Resistance is noted at $1.1660 (Hourly resistance June 14), support is seen at
the aforementioned YtD low.
- Immediate focus remains on ECB rhetoric with Draghi, Coeure, Villeroy,
Nowotny, Knot & Lautenschlaeger all set to speak on Wednesday, while the
political situations in Germany & Italy also remain in vogue.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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