A series of comments from ECB officials overnight proved to be a drag for the euro as it fell to a low of $1.3750 before opening at $1.3826 this morning in Asia. It traded up to a $1.3828 high in early trade but ran into sellers, who pushed it back down to $1.3817 as the Fed’s Charles Plosser spoke this morning. Euro-dollar recovered a bit to $1.3823 after that but sellers again from $1.3840 limited the move higher, sending euro-dollar back down through $1.3820. This time the pair extended the lows down to $1.3811 in the late morning/early afternoon as the aussie rose on RBA’s Stevens’ remarks andeuro-aussie weakened. Euro-dollar was last at $1.3811. Immediate support is currently seen down near the overnight low at $1.3750/45, bids seen around there while up top, sell orders are still expected in place at $1.3850/60 and from $1.3890.
