EURO SUMMARY: Opened in early Europe around $1.2329
-- Euro-dollar opened into Asia around $1.2330, having been pressured to
a late session high of $1.2350 in NY. Rate initially edged to $1.2234
before turning lower, the rate easing to mark session lows at $1.2208
before settling between $1.2310/25 through the middle part of the
Asian day. Rate then edged higher in late afternoon trade in a
basically subdued Asian session, all major pairs restricted to tight
ranges as they consolidated Tuesday's recoveries. Euro-dollar broke
above the overnight high at $1.2334, extending the recovery to
$1.2355 in early Europe as early traders 'gunned' for reported stops
at $1.2355/60. Failure to rigger stops left spec longs exposed with
middle eastern supply weighing back on the rate and squeezing.
Downside momentum gained pace through $1.2300 to take rate down to
$1.2274 before finding support. Recovery efforts struggled, but
eventually broke above $1.2300 late morning. Consolidation remains
the play into US trade, awaiting clues from equity market action.
Provided by: Market News International
-- Euro-dollar opened into Asia around $1.2330, having been pressured to
a late session high of $1.2350 in NY. Rate initially edged to $1.2234
before turning lower, the rate easing to mark session lows at $1.2208
before settling between $1.2310/25 through the middle part of the
Asian day. Rate then edged higher in late afternoon trade in a
basically subdued Asian session, all major pairs restricted to tight
ranges as they consolidated Tuesday's recoveries. Euro-dollar broke
above the overnight high at $1.2334, extending the recovery to
$1.2355 in early Europe as early traders 'gunned' for reported stops
at $1.2355/60. Failure to rigger stops left spec longs exposed with
middle eastern supply weighing back on the rate and squeezing.
Downside momentum gained pace through $1.2300 to take rate down to
$1.2274 before finding support. Recovery efforts struggled, but
eventually broke above $1.2300 late morning. Consolidation remains
the play into US trade, awaiting clues from equity market action.
Provided by: Market News International
Trade on your own risk
Plan your trade&trade your plan dont be a ![](https://resources.faireconomy.media/images/emojis/64/1f414.png?v=15.1)
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