Closed in NY Thursday at $1.3065 after earlier printing highs of $1.3128. Euro slipped on the premature release of Google earnings, aided by headlines that the Greek PM is asking the EU to release the full E31.5bn tranche of aid as soon as possible. The rate flushed stops through $1.3080 but was cushioned by demand into $1.3055/50. Dollar demand in the Tokyo fix weighed on the pair and euro-dollar slipped to $1.3058 and re-tested yesterday’s spike lows. Support in the dip and aided by macro demand recovered to $1.3070, where the rate settled in a tight 15 pip range ahead of Europe. Light data in the US with the highlight being Existing Home Sales, released at 1400GMT. Focus remains on headlines from the EU summit today for added direction. On the downside strong demand remains into $1.3050, bids behind at $1.3040 with stops on a break, ahead of more bids at $1.3020.
EasyForexNews Research Team