LONDON, Mar. 19 (MNI) - Euro-dollar was heavy in Europe Friday morning. After being supported for much of the Asian session by Asian Central Bank demand the euro triggered some stop loss sales on a move though $1.3570. Traders reported the weakness in cable was a factor in the euros move lower. However bids ahead of the $1.3550 level have held for the time being.

Dollar-yen had another quiet session trading in a Y90.40-Y90.55 range, after initial demand pushed the dollar higher. Some large sales in cross-yen, notably sterling-yen, caused the dollar to slide lower to Y90.40. Traders report Japanese exporters have offers ahead of Y91.00 whilst demand by a semi-official Japanese government agency is said to be at the Y90.00 level. This demand is suggested to be linked to US Treasury purchases.

EURO SUMMARY: Opened in early europe around $1.3610. Euro-dollar opened Asia around $1.3607 with trade overnight subdued euro-dollar traded a $1.3597/27 range, with traders noting last night's close sub $1.3650 is very negative technically and the probability of a move back to $1.3430 area has increased. Demand from Japanese lifers in euro-yen helped keep the euro underpinned for much of the Asian session. Traders report system and model funds taking advantage of the rally and were noted sellers in the $1.3620-25 area. Euro-dollar then moved into the European session and after holding in the $1.3610 region early on the euro was dragged lower as stop loss trading in cable saw the euro slide below the $1.3600 and fill ACB interest around here. After holding $1.3580 initially some stops were triggered on a move through $1.3570 to a low at $1.3559. Euro-Swiss was heavy all morning trading down to Chf1.4318 from Chf1.4390 just ahead of the all time low at Chf1.4295.

US: Press pick-ups in the US Wednesday, * US PRESS: In a detailed review of the causes of the financial crisis, former Federal Reserve Chairman Alan Greenspan acknowledged a range of regulatory failures but strongly disputed the widely held view that the Fed left interest rates too low for too long, the WSJ reports.

* Karthik Ramanathan, who has overseen the issuance of more than $8 trillion in U.S. debt over the past year, plans to leave the Treasury Department at the end of March, the WSJ says. Ramanathan has run the treasury's office of debt management at a time of severe borrowing needs necessitated by the government's attempts to combat the financial crisis and economic downturn. His successor, who hasn't yet been chosen, will be faced with the continuing task of ensuring there is enough demand for U.S. Treasurys to help finance a growing budget deficit that's expected to top $1.6 trillion, the paper says.

* California's median home price rose 11.2% in February from February 2009, although home sales in the state slipped for the second consecutive month compared with a year earlier, according to a report released Thursday by MDA DataQuick, a housing-data provider, the WSJ says.

* Democrats made a final sprint toward a weekend vote on their health-care bill, pressuring wavering lawmakers as the Congressional Budget Office put the cost of the legislation at what party leaders see as a politically palatable $940 billion over the next decade, the WSJ reports. With a handful of votes still in doubt, President Barack Obama canceled a long-planned trip to Asia to stay and lobby lawmakers, fighting for every vote in advance of a showdown on the House floor expected Sunday, the paper says.

SCHAEUBLE: Comments from German FinMin - Need to secure long-term euro stability through budget consolidation.

ECB TRICHET: CDS shouldn't be misused in a speculative way - Need more transparency in cds markets - Reform needs to go beyond the banking sector - Must restore finanical, economic stability, rebuild confidence

EU BARROSO: Reported comments in interview with France 24 - Turning to IMF to provide rescue for Greece wouldn't be question of prestige for the EU - Greece is a member of the IMF.

GERMANY GOVT: Doesn't rule out imf aid for Greece.

EUROZONE: Data released in the eurozone Wednesday, ITALY DATA: Italy sa ind. Jan orders -2.8% m/m; unadjusted +1.1% y/y.

YEN SUMMARY: Opened in early Europe Dollar-yen Y90.43 Euro-yen Y123.11

the pair unable to break out of a Y90.35 to Y90.60 trading range Once again, traders say good Japanese exporter offers are layered above, from Y90.80 through to Y91.00 as firms look to repatriate funds ahead of the fiscal year end. Traders report there are stops placed above on a break of Y91.00 and there is continued talk of a Japanese government entity on the bid around the Y90.00 area said to be linked to the purchase of US treasuries. This theme continued into the European session and dollar-yen remained in a tight range only testing lower due to some cross-yen selling interest. Euro-yen remained bid for much of the Asian session as Japanese lifers bought again Friday. This saw euro-yen rally from Y122.91 level to Y123.35, this strength was short lived as the cross was sold during the European session, euro-yen was down to Y122.65 level after peaking in early trade at Y123.33.

JAPAN: Reported comments from Japanese officials Friday, * Kan: Comments from Japanese FinMin - Fiscal consolidation important for maintaining market confidence.

JAPAN: Data released in Japan Friday, * JAPAN: Japan's retail investor sentiment index rose 6 points to -42 in March, the latest Reuters Poll shows. Of those polled, 44% said the political situation was worse under the Hatoyama government.

- Michael De Napoli London bureau (44 207) 634 1620 mdenapoli@marketnews.com

Rates in London Trading TIME EURO-USD USD-YEN CABLE EURO-YEN EURO-STG 0600 GMT 1.3620 90.46 1.5229 123.22 0.8939 0700 GMT 1.3613 90.43 1.5197 123.09 0.8956 0800 GMT 1.3616 90.52 1.5166 123.23 0.8976 0900 GMT 1.3590 90.46 1.5143 122.92 0.8973 1000 GMT 1.3567 90.44 1.5140 122.70 0.8958 1100 GMT 1.3571 90.47 1.5133 122.78 0.8966