The pair started this morning at $1.3167 and edged up to mark an early high of $1.3171 but retreated soon after on reported offers European accounts. Euro-dollar fell through $1.3166 and initially went to $1.3162. Losses then extended further down to a $1.3153 low before decent demand from around $1.3150 came in to halt the move lower. The bids were apparently linked to a barrier there, dealers say and were sufficiently large to trigger short-covering which led to a minor retracement in euro-dollar back to $1.3165. The rebound continued to $1.3168 before it turned back again and was last traded at $1.3160. Further down, below $1.3150, stops are noted at $1.3140/35, atop larger demand in the $1.3110/00 zone.
