Opened in Asia toward the lower side....>

EURO-DOLLAR: Opened in Asia toward the lower side of the $1.1781 to $1.1848

range witnessed yesterday, where a firmer greenback and heavy supply in

euro-yen, placed the single currency on the defensive. There is no economic data

or scheduled events in Asia likely to impact trading, traders expect sideways

consolidation ahead of the European open and release of German Industrial

Production data. In options space, nearby strikes rolling off today at

$1.1750(E975mn), $1.1800(E1.09bn) and $1.1865-75(E949mn) should help to contain

the near-term range. The hourly low at $1.1781 provides initial support, while

hourly resistance is seen at $1.1835.