Euro opened in Asia at $1.1740 toward...>

EURO-DOLLAR: Euro opened in Asia at $1.1740 toward the upper side of yesterday's

$1.1718 to $1.1756 range, where upbeat German Industrial Production and hawkish

comments from ECB's Lautenschlaeger underpinned the single currency. German

Industrial Production data posted its biggest monthly increase in over six

years, coming in at 2.6% for August against expectations of 0.9%, while

Lautenschlaeger said, ECB should gradually reduce the ECB's bond purchases at

the beginning of next year "until we are no longer purchasing additional bonds".

There is no economic data or scheduled events in Asia likely to influence

trading. Local traders expect sideways consolidation ahead of the European open

and the release of German Trade/Current Account Balances and French Industrial

Production. Hourly resistance is found at $1.1756, while hourly support is

located at $1.1725.