Eur/usd - 1.2331 ... The single currency extended rise fm y'day's low of 1.2209 to 1.2353 (triggered some stops at 1.2350) in Asia in reaction to the dovish FOMC's statement, prompting investors to buy riskier assets. European Central Bank President Jean-Claude Trichet was quoted that he does not see deflation risks materialising in the eurozone. He also denied that budget cuts wud drag on growth in the 16-nation region. Trichet added euro is a very credible currency n he is confident that ECB is on right track for regulatory reforms n a no. of important decisions are to be taken at Nov. G20. Bids are located at 1.2320 n 1.2300 with stops seen below 1.2290/95. On the upside, offers are tipped at 1.2380-00 region.
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