The pair started the session today at $1.2760 after trading a $1.2744 to $1.2836 range during the US hours on Friday. Concerns about eurozone debt and the banking industry there continued to weigh on the euro, and the pair dropped early this morning to a low of $1.2737. A mild bounce followed, although that only took euro-dollar back to about where it had started the day, to around $1.2766. Better risk appetite appeared to have kept the euro supported since with the pair extending the initial highs to $1.2770 around mid-morning, but there’s been insufficient momentum to take the rate through $1.2800 so far. Euro-dollar was last at $1.2757 with fair-sized offers ahead from $1.2790/2800, some that linked to an option expiry at the latter mark, dealers say.
