The pair opened at $1.3719 in Asia this morning following a $1.3687 to $1.3729 range in the US overnight. It traded up to a high of $1.3721 soon after the Asian market got underway, supported by positive risk sentiment. It held above $1.3717 through most of the morning but failed to make further headway beyond the early highs amid a lack of interest in taking large positions in the pair ahead of the weekend. The market noted sellers, mostly option-related, atop the previous night’s high from $1.3750 while buy-stops were also seen sitting just ahead of that at $1.3740. Euro-dollar eventually slippedto an afternoon low of $1.3715 and was last holding just off that at $1.3716. Looking ahead, soundbites stemming from the weekend G-20 meeting in Sydney may be closely eyed, with special focus on any criticism of Fed tapering from emerging market countries.
