The pair opened this morning at $1.3755, just above the $1.3745 low traded in the US on Friday. The euro had marked a sharp drop from $1.3845 earlier that day but losses were generally contained this morning. Euro-dollar lost a few points to $1.3750 in early dealings but was mildly supported by euro-yen’s gains earlier. Euro-dollar recovered back to its opening levels and extended that marginally to $1.3761 as euro-yen peaked just as Japanese stock markets started their day. Euro-dollar however backed away to hit a morning low of $1.3749 midway through the morning session before rebounding again toward $1.3760. The pair was last at $1.3758. There are offers ahead atop last Friday’s $1.3794 US high, from $1.3800/05, with larger selling noted in the region ofthat session’s high at $1.3840/50. On the downside, the 100-day moving average is valued at $1.3740 today with demand seen at $1.3750 and then toward the $1.3705/00 region.
