The pair started in Asia this morning at $1.3470 after carving out a $1.3443 to $1.3487 trading range in the US last night, the euro running to the lows after ECB’S Asmussen commented that negative rates were available, although the euro steadied into the close on adding that inflation risks were broadly balanced. Euro-dollar’s Asian action has been fairly muted though, especially with the weekend nearing and a lot of focus on the Japanese currency today. Euro-dollar was last at $1.3466, not far from where it had started the day, following a $1.3462 to $1.3487 Asian morning range today. It traded the early high as euro-yen gained this morning but the stronger dollar tone has prevailed.Outlook for the euro isn’t overly bullish with immediate offers ahead at $1.3500 and $1,3520 likely to limit the pair’s upside potential in the near-term. Beyond that, bulls would want to see a clear-cut move through $1.3579 before becoming more convinced of the pair’s direction.
