A pullback in UST yields, aided by......>

EURO-DOLLAR: A pullback in UST yields, aided by comments from US Trump

concerning recent rise in rates, helped to dampen the USD's recent rise and

prompted risk appetite in NY which allowed EUR/USD to recover from earlier low

of $1.1432 to a high of $1.1503 ahead of the close. Rate dipped to $1.1485 into

the Asia open before picking up fresh demand which lifted it back above $1.15,

through Tuesday's late high and on to $1.1515. Rate consolidated around $1.1510

for the balance of the session. Early Europe retested $1.1515, helped by

refreshed demand for cable in opening Europe trade, but failed to make an

impression, with easing finding support around $1.1505. Next resistance seen

into $1.1515/20 ahead of $1.1535, stronger into $1.1550. Support $1.1485/80.

Several EU countries publish IP data this morning but not expected to be major

market moving. Italy Budget remains in the background.