Closed in NY at $1.3156. Trade through Asia was initially contained within a very tight range of $1.3147/58, dipping down to mark session lows at $1.3145 as rate reacted to Aussie’s fall following the weak release of Australian inflation data, before recovering back, touching overnight highs at $1.31602 ahead of the European open. Rate retains a firm tone into early Europe, though conditions through the overnight session described as very subdued. Offers seen placed between $1.3160/70, a break to open a move on toward $1.3180 ($1.3181 61.8% $1.3229-1.3104) ahead of $1.3200 (76.4%). Support seen at $1.3145/40 ahead of $1.3125/20 with further interest noted between $1.3110/00. Stronger demand noted at $1.3070 with corporate demand interest placed from below $1.3050. Very light EMU and US calendar for today with direction to be provided by equity markets and their perception of risk.
EasyForexNews Research Team