The euro remained buoyed in much of the.......>

FOREX: The euro remained buoyed in much of the European session as better than

expected economic data continued to flow in helped by general euro strength in

thin markets. Eur/Usd broke above $1.1860 ahead of the German Ifo data. As the

data was released the pair showed minimal upward reaction to stronger than

forecast headline German Ifo. There was talk of $1.1800 psychological figure

possibly serving as a point of resistance, however, Eur/Usd continued on a tear,

printing one intra-day high after another. As UST yields firmed the dollar got

an added lift and Usd/Jpy rose to Y111.52. The pair was seen approaching

resistance from the daily high (Y111.56) before fading. Pullback off the high in

UST yields has seen Usd/Jpy drift towards the Y111.35/40 area in early NY.

Persistent dollar sales extended to Y111.34 before meeting support from the

European low. In the early European trading hours Aussie broke the narrow Asia

range with added weight via the crosses. Aud/Usd touched extended pullback lows

of $0.7610 with demand reported on approach to $0.7600 ($0.7604 - Nov23 low). As

cross sales started to pressure (Aud-Jpy/Eur-Aud), rate moved through the Asia

low to $0.7607 before fading.