Closed Friday in NY at $1.3130, having seen extended post FOMC react highs of $1.$1.31691, pulling back to challenge the $1.3100 area before recovering into the close. Rate opened in Asia at $1.3120, drifted off from an early high of $1.3130 on euro-yen supply to session lows of $1.3105. Move met decent demand interest linked to strong buys of euro-Aussie from a US name, the buying lifting the rate back and taking it to a high of $1.3150. Offers placed from this level, and said to extend to $1.3175, with a mid-sized Swiss name said to have stops placed on a break of $1.3180. Further offers then seen into barrier interest at $1.3200 with more stops above. Support remains at $1.3105/1.3095, with stops placed on a break of $1.3090. Tokyo holiday made for a thin overnight session. Rate was seen opening into Europe around $1.3135. Eurozone trade data at 0900GMT, as well as Germany Merkel answering press questions at the same time to provide the morning interest. Empire mfg data due at 1230GMT in the US. Risk appetite remains in favour acting to keep the euro buoyed.
EasyForexNews Research Team