The pair started at $1.3461 in Asia morning and drifted down to session low of $1.3446 before fresh buying interest in euro-yen dragged the euro higher. Higher dollar-yen initially pressured the euro lower but fresh buying interest in euro-yen supported the euro. Euro-yen started at Y134.61 and brought up to daily high of Y134.94 before retreating to current of Y134.70 last. Euro-dollar trades in a fairly tight intraday range of $1.3446 to $1.3464, it traded between $1.3451 to $1.3456 from late morning to pre-Europe session and last seen at $1.3455. Stronger dollar tone in Asia as dollar-yen breaches above Y100 to hit high of Y100.31 but the euro supported by yesterday’s news that Ireland and Spain set to exit the EU-IMF supported programs and Yellen’stestimony went uneventful as focus shifts back to economic data. The euro-dollar expected to be capped at $1.3500 with strong offers and option expiry and interim support at $1.3400/$1.3390 with medium demand & previous low.
