The single currency opened in Asia at...>

EURO-DOLLAR: The single currency opened in Asia at $1.1896 toward the upper side

of the $1.1852 to $1.1922 range witnessed yesterday, where broad based US dollar

weakness was the theme. Traders make mention of a few large option expiries for

today; $1.1850(E693mn), $1.1870-75(E1.19bn) and  $1.1900(E500mn), that may act

to contain the near term range. Yesterday Bloomberg reported that a majority of

economists expect ECB President Mario Draghi will comment on the Euro's recent

appreciation at Thursday's ECB meeting, however, strategists at CBA believe

Draghi will not attempt to talk down the euro because of the G20 commitment to

not influence exchange rates, leading to an upside risk to the euro-dollar.

Hourly support is located at $1.1875-80, while yesterday's top of $1.1922

provides resistance.