EUR/USD - 1.4190.. Euro rebounds fm 1.4118 (Aust.) after tumbling fm NY high at 1.4292 as heavy selling due to profit-taking by Asian names plus soverign accounts pushed price sharply lower. Intra-day cross buying vs yen & short-covering by st specs has helped price to recover early losses as market awaits the release of Germany PMI n then IFO (both expecting to be slightly better than previous months' figures). Offers are reported near 1.4200 n abv whilst bids (fm y'day's sellers) are touted near 1.4090/1.4110 area. Sell on rallies and then buy the dips.
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