The pair opened at $1.3133 this morning in Asia following a $1.3111 to $1.3134 range overnight. Euro-dollar edged up briefly to trade a high of $1.3135 and then turned back down to $1.3129 in early market action. The pair then continued to chop around in that range until the late morning when it then dropped to a $1.3122 session low. Dealers say they expect the morning’s choppy market action to continue with attention focused on the ECB meeting and rate decision on Thursday. While many expect the ECB to significantly shift its rhetoric and may announce additional easing measures to help growth and inflation in the eurozone, there have been some concerns that the ECB coulddisappoint. Euro-dollar stayed near the lows in the early afternoon and was last at $1.3125, with immediate demand noted down at $1.3110/00, large orders there, say dealers, with option names also mentioned, and with associated stops sitting just below. Up top, there are offers noted at $1.3150 and toward $1.3200, and also some mention of a $1.3200 expiry today, with stops noted just ahead of that at $1.3180/85
