Closed in NY at $1.3004 after rate had recovered through the NY session from lows of $1.2911 to $1.3032 as the dollar gave back some of its recent gains, with yields in UST also easing off. Rate remained buoyed above $1.3000 into Asia before it slowly stepped its way up to overnight highs of $1.3027, settling back between $1.3010/20 into Europe. The Asian session was fairly subdued, consolidating Thursday’s recovery. Offers seen placed between $1.3030/35, a break to open a move toward $1.3050 ahead of $1.3070/80. Support seen back at $1.3000, a move back below here to allow for a deeper move toward $1.2980. EZ inflation and employment data due at 1000GMT with US CPI at 1230GMT to provide interest. The EU heads of state summit concludes today so traders will be wary of headline risk.
EasyForexNews Research Team