2 November 2001, 15:17 Forex - Euro rangebound in midday trade ahead of US payrolls data
LONDON (AFX) - The euro was little changed from morning levels in
rangebound midday trade, as investors sat on the sidelines ahead of
widely awaited US October non-farm payroll data due out this afternoon,
dealers said.
"The market is sitting on its hands waiting for the employment
report," Mark Austin, a currency strategist at West LB said.
"The market is already discounting bad numbers so there may be no
big reaction when the actually come out," he added.
Sterling was slightly weaker against the euro.
"I think it is just a bit of positon squaring ahead of the weekend
but flows have been light," Austin said.
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