It’s been a relatively subdued morning for the euro today as it opened at $1.1477 after last night’s $1.1390 to $1.1499 range during the US hours. Early pre-Asian market action saw euro-dollar attempt another move back toward the overnight high but it stalled at $1.1486. According to dealers, offers continue to surround the $1.1500 mark and these have capped the euro’s gains so far. Euro-dollar then turned to the euro-yen market for clues and it then retreated as the cross also wilted. Euro-dollar traded weaker through the first few hours of the Asian session and fell to a $1.1461 low before a small bounce was then seen. The pair last traded at $1.1468. A $1.1450 expiry today in euro-dollar may draw some attention with further demand then noted down at $1.1400. Sellers are noted in the region from $1.1490 to $1.1500.
