Eur/usd – 1.4246 … The single currency jumped to 1.4278 in Tokyo lunch session (liquidity was poor as mentioned earlier) due to active short-covering after triggering stops at 1.4210 n 1.4250 on speculation that U.S. economic growth is slowing. Economists expected reports to be released later in the day will show U.S. consumer spending slowed to 0.5% in April and pending home sales declined by 1%. Besides, Germany’s DAX, France’s CAC-40 n Britain’s FTSE 100 are expected to open higher by 0.9%-1.1%. Bids are now located at 1.4230/40, 1.4210/15 n further out at 1.4180 whilst some offers are tipped at 1.4275 n 1.4300.
