The pair played second fiddle to dollar-yen this morning, with most of the limited market attention on the Japanese unit while players waited for more clues from developments in Europe and the US for clearer euro direction. In particular, many in the market are waiting for the resumption of US data releases, especially non-farm payrolls data, which are due Tuesday. Euro-dollar opened at $1.3684 this morning after a $1.3669 to $1.3700 range in the USA on Friday. It marked a tiny $1.3680 to $1.3688 in early market action, before sliding to a $1.3671 low as the dollar strengthened. The pair’s downmove was then contained by reported demand interest at $1.3660/50 and $1.3630/20, allowing euro-dollar to consolidate near the lows. It twice attempted to rallyamid the improved risk environment but has yet to regain ground above $1.3680. Euro-dollar was last at $1.3677 ahead of the European open.
