The Federal Reserve left rates and polices unchanged yesterday, as expected. Euro-dollar closed in NY at $1.2970, the rate recovered from a pullback low of $1.2941 after earlier posting a high of $1.2983. Euro-dollar opened flat in Asian trade and remained in consolidation mode, before lifting on sharp cross demand to $1.2985. The rate met a wall of offers and aided by profit take supply eased to $1.2967. Dip demand led recovery attempts and the pair last traded around $1.2988 ahead of Europe. Reported large offers seen into $1.3000, through here opens techs at $1.3006 (5 dma), ahead of more offers at $1.3020/25 with stops set. Data release light in the US today with highlights from Initial Jobless claims and Durable Goods, released at 1230GMT.
EasyForexNews Research Team