The pair spent another dull Asia-Pacific morning trapped in narrow ranges again, spending a significant portion of the morning essentially flat around $1.3780. Euro-dollar opened at $1.3781 today following a $1.3776 to $1.3809 range in the US last night. It popped up to an early $1.3791 high but was then pulled down by euro-yen losses ahead of the Japanese stock market open. Euro-dollar rebounded to a $1.3797 high around mid-morning but ran aground again after euro-aussie flows hit the single currency. Euro-dollar then traded sideways between $1.3780 and $1.3789 through the rest of the morning. The pair edged back up toward the morning high in the early afternoon, supported by an improved risk environment following a recovery in some of the region’s major stock markets back into positive territory and was last at $1.3791, still just atouch higher from where it had started the Asian day today.
