Cable's move higher drove EUR/USD up....>

EURO-DOLLAR: Cable's move higher drove EUR/USD up to $1.1640 on Wednesday, where

it hit resistance, with profit taking squeezing the rate back toward $1.1600,

before a late uptick to ~$1.1630. Early USD weakness during Asia-Pacific hours

has seen the rate post a high of $1.1659, on extension through Wednesday's high,

and a brief look above hourly resistance/the 61.8% retracement of the move from

$1.1733 to $1.1530 ($1.1650/55).

- The pair last deals at ~$1.1645. Consolidation above $1.1600 and the 50-DMA

would change the short-term outlook, shifting focus back to the Aug 28 high

($1.1733). A move back below $1.1600 would keep the downtrend intact with

$1.1500 seen as the next notable are of support.

- Next Thursday's ECB MonPol decision headlines the EZ docket over the next week

or so. The European Central Bank is set to confirm it will wind down its asset

purchase programme in October at its Governing Council meeting Sep. 13, but

might hold off a final commitment to end it in December, monetary policy sources

told MNI. Participants will also keep an eye on Brexit developments & the

Italian political situation.