The pair has had a subdued morning session today in the Asia-Pacific after it opened at $1.2383, stuck on the sidelines as the focus remained on the yen and aussie. Euro-dollar started the morning in a narrow $1.2380/90 range with eyes also on this week’s ECB meeting due on Thursday. The pair marginally extended the high to $1.2391 around mid-morning but failed to make any further progress from there. It spent the rest of the morning shuffling between $1.2383 and $1.2390, to last trade at $1.2385. A reported option expiry close to the European session low, at $1.2375 is noted below current levels while offers are also noted in the $1.2430/50 region. Stops are noted below $1.2350 today and on the topside, above $1.2425, $1.2510, $1.2540 and $1.2600.
