The pair started at $1.1933 this morning in the Asia-Pacific before it got dragged down to $1.1927 on euro-yen’s losses. Euro-dollar recovered after that as short-covering interest took hold and carried the up through $1.1940. Euro-dollar continued to edged higher despite further euro-yen declines, on reported demand from $1.1900. The pair encountered sellers at $1.1950, which initially capped the upside at $1.1946 before the report on China’s infrastructure spending triggered a further extension of the high to $1.1955. Euro-dollar consolidated part of the morning moves ahead of the European open today and eased to last trade at $1.1949. Further sellers are noted at $1.1980 while option expiries are then seen further up at $1.2000.
