Opened at $1.3142 after $1.3067/1.3157 overnight range. Euro had lifted through stops in the $1.3140/50 zone ahead of the US session, only to stall and reverse, slipping to $1.3120 early in the US day as light selling emerged at the ECB fixing. Pair found a base there that allowed rebound on light flows, EUR peeking briefly above $1.3150 around option expiry before deflating again on modest flows. EUR slipped back to revisit support at $1.3120, eventually easing to $1.3100 area by midday as light stops were flushed under $1.3100 but EUR held inside $1.3100/20 into the release of the Beige Book, then testing to below $1.3100 on the slightly upbeat outcome. With low prints marked around $1.3093, EUR recovered to $1.3105 by late in the session as EUR/CHF ticked cautiously higher after an economist report suggested SNB could raise the floor to Chf1.2500 to demonstrate its resolve.
EasyForexNews Research Team