The pair has had another relatively subdued session in the leadup to this Thursday’s ECB meeting, after it opened at $1.3679 this morning. It got up to a $1.3683 high in early dealings in anticipation of a better day for regional stocks following the record highs marked on Wall Street overnight. The gains were then capped by offers lined up ahead of $1.3700, assumed to be related to a rumored $1.3500/$1.3700 DNT structure, dealers said. The euro then continued to fall, taking its cue from the aussie’s falls, to the initial $1.3675 low, which also corresponded to the 200-day moving average. Dealers note decent demand around $1.3670, some talk previously of LatAm interest furtherdown at $1.3660, and similar-sized bids also at $1.3650. Stops are now noted below $1.3670 following the failure to make headway above $1.3700 with more stops noted below $1.3630 and $1.3600. Topside stops are also noted above $1.3700. Euro-dollar last at $1.3674. A close back below the 200-day hints at a return to the $1.3503-65 region
