Closed in NY at $1.3130, after its recovery off earlier Monday session lows of $1.3030 was given a boost through European closing fixes to a high of $1.3142, closing any chart gaps left after rate was marked down into Asian trade Monday. Rate edged back to $1.31379 in early Asian dealing Tuesday, the move seen influenced by some EUR/AUD short covering ahead of the RBA rate decision, with most expecting the Bank to cut rates. However, the RBA decision to keep rates on hold spiked Aussie higher, dropping EUR/AUD to fresh record lows (A$1.2042) and taking euro-dollar to session lows of $1.3089. Rate recovered, settling between $1.3095/1.3115 through the balance of the session and into Europe. Rate currently trades around $1.3110. German IP the key data release on the day (1100GMT), with SNB Jordan (1045GMT), EFSF Regling (1210GMT) and Germany Merkel (1800GMT) speaking ahead of this evening’s Fed’s Bernanke testimony to the Senate on Economic Outlook (expected not to divert from recent testimony to the House Budget Ctte). However, developments in the Greek debt crisis remain key.
EasyForexNews Research Team