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Impulsive Rally Extends

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Late Eurodollar/SOFR/Treasury Option Roundup

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EURO-DOLLAR
MNI (London)
EURO-DOLLAR: (correct) USD came under general sell pressure in reaction to the
dovish FOMC Wednesday, the rate able to clear above recent resistance into
$1.1367 and break $1.1400, trading on to an eventual high of $1.1448 before
react momentum faded.
EUR-USD eased off to $1.1410 ahead of the close. Fresh pressure on the USD
emerged in Asia (market thinned by today's Tokyo holiday) which edged rate back
to $1.1437, helped in part by AUD and NZD data react gains vs the USD. As
momentum  faded so rate eased off to $1.1420 area ahead of Europe. FOMC dovish
announcement expected to keep the USD on the back foot for the time being.
- Resistance into $1.1450, $1.1480, stronger into $1.1500. Support $1.1410/00,
$1.1385/80.
- Option expiries of note for today's NY cut, $1.1360-75(E1.69bn),
$1.1400(E2.8bn), $1.1415-30(E2.96bn).
- ECB Economic Bulletin at 0900GMT. US Phila Fed, Weekly Jobless Claims at
1230GMT. EZ Consumer Confidence due at 1500GMT.
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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