The pair ended the NY session at $1.2448 after trading from $1.2367 to $1.2448, with lower US yields on back of lower oil prices which sparked risk aversion. The spot drifted to session low of $1.2444 before extending rally to fresh session high of $1.2495 in early Asian trade, breaching 21-dma at $1.2441 after stops were triggered above $1.2450. The euro spiked to session high but met supply before reported offers at $1.2500, the rate pullback to Asia open of $1.2448 before rebounding to $1.2463 and retreated to $1.2455 in morning session. The euro drifts lower to hit fresh session low of $1.2436 last during afternoon session, breaching the 21-dma at $1.2439 currently. The euro-yen rallied to session high of Y147.35 from session low of Y146.43 on back of higher euro in early trade, but good supply above 21-dma at Y147.18 pressured the cross lower and dragged the euro lower in afternoon trade. Reported offers above $1.2490s, with option expiry of E1.29 bln & strong offers above $1.2500, ahead of previous highs at $1.2507 (Dec1) and $1.2532 (Nov26) will be watched before the 55-dma at $1.2557.
