The pair ended NY session at $1.2716 after marking a trading range of $1.2716 to $1.2784. The spot pullback lower from Asia/London high of $1.2840, responding to Reuters news that ECB looking into buying corporate bonds but a FT article contradicted the news. Comments from Schaeuble and stronger US existing home sales further pressured the rate to hit intraday low of $1.2716 during NY session. Asia Wednesday session, the euro drifted to session low of $1.2707, before recovering higher to hit fresh session high of $1.2731 during late Asia morning and recedes to $1.2726 last. Early offers in euro-yen pressured the euro lower, as Asian traders react to overnight ECB news. But firmer aussie post CPI data and heavy dollar-yen pushed the euro higher. The euro stalled before 21-dma ($1.2704) with strong demand reported at $1.2700/05, while option expiries noted at $1.2745/50 and $1.2790/800. Lighter volume session as Singapore and Malaysia markets closed for public holidays, ahead of BOE minutes and US CPI data later.
