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Cable recovery induced rally in.........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Cable recovery induced rally in EUR/USD touched a high of $1.1640
before it ran into stiff resistance. Asian traders had earlier reported
resistance in the area at and above $1.1630 in morning reports. Profit take
sales were also noted by those that went long Tuesday into $1.1530 which added
to the counter. Rate has since eased to $1.1609, currently looking settled
around $1.1620 through the London fix. Resistance said to remain in place
between $1.1640/50. Support into $1.1600 ahead of $1.1570. 
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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