Euro opened in Asia at $1.1744 toward...>

EURO-DOLLAR: Euro opened in Asia at $1.1744 toward the upper side of the $1.1696

to $1.1773 range witnessed yesterday, where upbeat Eurozone PPI and a modestly

weaker US dollar underpinned the single currency. Strategists at CBA say,

Producer prices  quickened at an annual pace of 2.5% in August, or 0.3% over the

month (consensus: 2.3% y/y, 0.1% m/m). This reinforces our view the ECB will

taper its quantitative easing (QE) program from January 2018. There is no

significant data in Asia to drive markets, traders expect sideway consolidation

ahead of the European open and the release of European PMI's. Resistance lies at

$1.1781 (61.8% fib $1.1833-$1.1696, while hourly support is seen near $1.1730.