Free Trial

Intraday low extended to $1.1222........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Intraday low extended to $1.1222 ahead of the 1600GMT fix with
buyers attracted into the dip allowing rate to edge back to $1.1236. Overall a
fairly muted range over the day, the rate having touched a high in Europe of
$1.1258, after eventually clearing above $1.1250, with current recovery seeming
to slow into $1.1240. Stronger resistance now seen at $1.1255/60, a break to
expose $1.1285/90 ahead of $1.1300 and last Thursday's high of $1.1320. Support
$1.1220 ahead of $1.1200, $1.1185, stronger between $1.1177-71. Tuesday to focus
on US CPI with market median for core data seen unchanged from Jan. Interest to
see if the recent rise in wages, as shown in last Friday's Employment Report,
transfers across to inflation. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.