Asian traders reported that for a.......>

EURO-DOLLAR: Asian traders reported that for a third day north Asian sellers

emerged in early trade but stronger demand quickly overwhelmed. Reports that

offers at $1.2280 had been pulled opened the way for the assault on the reported

option barrier at $1.2300. Triggered stops on the break propelled rate on to a

fresh 2018/3-year high of $1.2323. Traders reported further barrier interest at

$1.2350 and at $1.2400. Demand exhaustion then saw rate reverse tack and drifted

back to $1.2238 ahead of the European open. Rate currently trades around

$1.2245. Reports from Asia noted onshore in Usd/Krw. If any intervention expect

the BOK to be around buying into dips for reserve balancing. 

* Support $1.2238, $1.2225(76.4% $1.2195-1.2323), $1.2195(Jan16 low). Resistance

$1.2323, $1.2350(Barrier)

* EZ CPI 1000GMT. US IP/Cap.Ut. 1415GMT. Bk of Canada rate decision 1500GMT(25bp

hike widely expected)