The pair closed the NY session Thursday at $1.2933 after rate had recovered off an earlier low of $1.2822 to $1.2957 before drifting lower into the close. This corrective easing continued into Asian trade with the rate pressed down from an early posted high at $1.2937 to $1.2904 via euro-yen sales from Y132.50. Another sell off in dollar-yen reversed the early dollar gains and allowed euro-dollar to recover to $1.2936 before it settled around $1.2930 into Europe. Germany Q1 GDP final reading due for release at 0600GMT, along with Germany GfK and seen providing the early interest ahead of Germany Ifo at 0800GMT. EMU speakers during the day will also be in focus. Offers reported in place between $1.2950/75, bids at $1.2905/00. Further demand seen into $1.2880, more at $1.2850 with stops placed below. Stronger demand noted from $1.2820.
