It’s been a quiet morning for the euro today with a lot of the day’s attention so far focused on oil and commodities and the impact on the aussie and the yen. Euro-dollar opened at $1.2453 this morning after last Friday’s $1.2427 to $1.2490 range in the US. The pair edged higher in early pre-Asian dealings as comments over the weekend from the ECB’s Lautenschlaeger watering down talk of further monetary policy easing despite sluggish inflation and poor growth numbers providing support, reaching $1.2474, before pulling back sharply as Asian markets started with a risk-off tone. Euro-dollar fell early to $1.2447 and then followed through with a further retreat through $1.2430 before it came to rest at Friday’s $1.2427 low traded in the US. There’s been a small bounce since, as euro-yen also clawed back some of its initial losses, with euro-dollar taking back the $1.2440 mark to last trade at $1.2453. Option expiries noted at $1.2400, $1.2450 and at the $1.2470/75 region are likely to keep the pair confined within these ranges through the rest of the global session, according to dealers.
