The pair closed in NY Monday at $1.3256 after rate had recovered off a NY low of $1.3183 to $1.3269 before drifting off into the close. Trade into Asia consolidated this recovery between $1.3251/62, dipping to $1.3248 before the dollar-yen reaction sell off post BOJ announcement spiked rate up to session highs of $1.3292. Rate then drifted off to hold around $1.3270 ahead of the Europe open. A light EZ data calendar with market expected to watch for any comment out from the Tues-Weds German Constitutional Court hearing where they will consider the legality of the ECB bond purchase programme. Main market moves to again focus on yen action, Nikkei performance a key driver during the morning, switching to UST yield trade into the US session. Euro-dollar offers seen placed into $1.3300/10, stops through $1.3310/20 but any triggering expected to meet further offers placed at $1.3330. Further offers then noted into $1.3350. Support seen at $1.3265 (61.8% $1.3248-92), a break to allow for a deeper move toward the $1.3250 area. A clear below here exposes $1.3225/20 ahead of stronger interest between $1.3200-1.3190.
