The pair started at $1.2655 this morning after overnight losses saw it retreat to a $1.2542 during the US trading hours. Euro-dollar weakened from early in the session after a marginal high of $1.2662. It traded down from $1.2646 and has since barely looked back up. Asian speculative accounts were spotted unwinding against euro-dollar from around there, which drove it through $1.2625 where fresh selling then kicked in as well. Euro-dollar continued to retreat to eventually trade a session low of $1.2605, where rumored demand from $1.2600 then cushioned the move. In the late morning/early afternoon, euro-dollar managed to claw its way back up to $1.2623 as the market waited for the RBA and BOJ policy decisions. Soon after the RBA decision, euro-dollar lasttraded at $1.2618. Further losses to see the pair trade through $1.2570, while key support below that is seen at the $1.2504/01 lows traded after last Friday’s non-farm payrolls data
