The pair opened in Asia this morning at $1.3376 after last night’s $1.3358 to $1.3392 range during the US trading hours. Euro-dollar was pressure from the get-go today as events in Russia and Ukraine fuel worries of escalating tensions and risk-off trades. Aisan stocks were broadly weaker and euro-dollar was also weighed down by euro-yen’s losses. Euro-dollar fell early to $1.3360 but saw a minor recovery to $1.3373. The pair then turned back down again, this time falling through the early lows to hit a $1.3360 session low. Rumored bids from the $1.3355/50 region provided support amid some talk of option interest and possibly sovereign accounts also noted there and stops then expected on a break lower. Euro-dollar retraced its path back up a bit after that, and waslast at $1.3365. Up top, sellers are at $1.3385/90 and $1.3445/50.
