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A choppy start to the European..........>

EURO-DOLLAR
EURO-DOLLAR: A choppy start to the European session has seen EURUSD break its
narrow overnight range. Rate touched lows of $1.1278 followed by a short squeeze
to intraday highs of $1.1297. This brings yesterday's high into view at $1.1305,
with the 21-dma & 50-mma sitting just behind at $1.1313/14. Also, a reminder of
the very large $1.1295-1.1300 E1.98bn expiry for today's NY cut.  

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