Eur/Usd was pushed higher in early Europe.....>

FOREX: Eur/Usd was pushed higher in early Europe as the better than expected

flash mfg PMI data from France, Germany and Eurozone was released. The pair made

made intra-day highs of $1.1747. The single currency was given an added boost as

Germany's SPD party said it was open to talks with the Merkel government. This

could offer support to a minority Merkel government, however, it ruled out

another grand coalition(Bbg). Cable initially lost ground dropping to intra-day

lows $1.3285 before the GDP data was due to be published. The GDP figures came

largely inline with consensus estimates helping the pair bounce back from the

lows. Eur/Gbp was also well bid prior to the release of the UK GDP data, but

once the data was released sterling strengthened and the pair faded off the

highs of Gbp0.8912. Dollar-yen started with a bearish feel in Asia, but has

since recovered and traded sideways. Eur/Jpy was initially lower in Asia

attributed to sales by spec sellers, however, the pair has made a recovery on

the back of strong manufacturing readings across Europe and is around intra-day

highs of Y131.82. It is worth noting that markets will most likely trade thin

today as US is closed for Thanksgiving day.