The pair started lower at $1.3555 in relatively quiet Asia markets as most regional countries are closed for Chinese New Year holidays. Overnight weak German CPI pressured the euro lower into NY session close with no pullback so far and this morning it trades in a confined range of $1.3545 to $1.3559. The lacklustre pair tracked euro-yen movements today and saw further selling interest in the cross for the third consecutive day, triggering stops at Y138.80 in thin Asia markets. The euro-dollar touched a low of $1.3545 when stops pushed euro-yen to low of Y138.67 and it rebounds to $1.3553 last while euro-yen at Y138.80. Market will be closely watching eurozone CPI later after yesterday’s weak German CPI. Asia markets respected NY’s low of $1.3544 for now, medium demand seen at $1.3510/00 area with stops below $1.3495 seen.
