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EURO-DOLLAR: Breaks below its Asian base of $1.1788, then Thursday's base of
$1.1784, and extends to $1.1777 before meeting support. Rate currently trades
around $1.1779. Positions adjustments ahead of this afternoon's Jackson hole
appearances by Fed Yellen and ECB Draghi seen driving, though rate remains in a
very tight trading range. BNP note this morning suggests market is going into
the Symposium long Eur/Usd but suggest that both delegates could disappoint
market expectations by failing to provide any strong signals. BNP add that
current positions could be exposed if Fed Yellen provides a more hawkish tone
than expected, and/or Draghi mentions Eur strength(no hint of taper).