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Asia consolidation mode continues.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Asia consolidation mode continues into Europe, following
Wednesday's sharp move up to extended highs of $1.1910. Rate had eased off to
$1.1850 ahead of Wednesday's close with Asia extending the move to $1.1834.
Recovery topped at $1.1857, just shy of the opening Asian high of $1.1859, with
rate currently trading around $1.1841. Eur/Jpy remains above its Wednesday break
out area of Y130.67/60, with bids said to be supporting between Y130/80/70. This
interest likely to keep Eur/Usd buoyant, especially if reported offers in
Usd/Jpy to Y111.00 remain in place. Focus will be switching over to Friday's key
US NFP release, consensus seen around 180k. Resistance expected between
$1.1875/80 ahead of $1.1910. Support $1.1834/33 ahead of $1.1820. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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