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Euro Slips vs. Dollar in Early Trades

Posted:02/12/2008 10:13 by Oliver Scott
EUR-USD moved modestly lower in early European trade, with weakness in the euro crosses adding weight on the dollar pairing.  EUR-USD went to 1.2563 before moving to 1.2610 after European indices followed the Asian market lower.  The dollar turned lower, while EUR-JPY rebounded from 118.50-55 to trade over a big figure higher. Meanwhile, EUR-CHF traded up to 1.5245 after it found a base ahead of 1.5165. EUR-USD should continue to find support between 1.2570 and 1.2550, with corporate related interest and sovereign account bids cited. On the expiry side, strikes are noted at 1.2520, 1.2600 and 1.2650, which should add to the choppy price action around the 1.2600 pivot. Sellers remain at 1.2620, 1.2630 and 1.2640 click here to return to the top of the page
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