EUR/USD: Easing with Market Eyeing JPY Flurry

A big short-covering rally in USD/JPY is helping drag EUR/USD down in its tight range.Dealers say 120.00 barriers were taken out in the last few minutes and a sharp short-covering rally then followed, taking the rest of the majors along for the rise. Bids are eyed at 1.2930 near-term, followed by 1.2910/15. 1.2960/70 offerscontinue to cap rallies.