The pair marked a $1.3472 to $1.3567 range in the US last night before it then opened in Asia at $1.3535. As the US currency gained, euro-dollar retreated in unison, slipping to $1.3523 initially and then to a low of $1.3516 after Senate lawmakers passed the debt ceiling bill. Euro-dollar was largely a victim of the dollar’s whims, particularly dollar-yen, recovering back to $1.3552 high as dollar-yen traded down to its morning low. The pair held on to the rebound into the afternoon session as dollar-yen continued to sink, with euro-dollar re-visiting the $1.3552 high again. Euro-dollar was last at $1.3546compared with the overnight close of $1.3534. A break above the $1.3570 resistance is seen opening up the pair for move toward $1.3600/07 where there have been plenty of talk of strong interest to sell the pair.
