The pair started this morning at $1.3364 after last night’s $1.3353 to $1.3389 range during the US hours last night. Euro-dollar encountered early sellers off $1.3380 and it slipped in initial market action to $1.3360. Losses resumed after that with euro-dollar sliding to a $1.3354 low. The pair also took its cue from the decline in euro-yen but found demand coming in at $1.3350. This helped euro-dollar stage a small rebound to $1.3358 before it then consolidated near $1.3355 through the rest of the morning. Euro-dollar stops have been noted just below the initial low, relatively small-sized at $1.3350,with larger stops then seen at $1.3330. Demand is also noted in that region from $1.3340/35, and then $1.3325/20, talk of option barriers located there also, according todealers. Topside interest appears to be more limited, with offers noted at $1.3388, right at the top of last night’s US session range.
