The pair started in Asia at $1.3733 after a $1.3708 to $1.3749 range in the US overnight and then edged up to a marginal high of $1.3737 in early trade. The gains lacked follow-through and euro-dollar then turned back lower. The pair again saw mild lift to $1.3736 after euro-yen rose following the Japanese stock market open but then eased again as market interest drained out and attention switched to the aussie’s fortune. Euro-dollar then found itself stuck toward the lower end of a $1.3723 to $1.3737 range as Asia-based players stayed away from taking fresh positions ahead of tonight’s ECB decision. By the early afternoon, euro-dollar was still in limbo, at $1.3726 last compared with a US close of $1.3733. Initial sellers were noted just atop the morning low from $1.3745, with more expected at $1.3780 while stops are then seen on a breakabove $1.3820, according to dealers. On the downside, buyers are seen fronting a $1.3700 option expiry, with further demand also then seen from $1.3680.
