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(correction) Posted a fresh 4-month.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: (correction) Posted a fresh 4-month high of $1.1468 during European
morning trade on hopes for a breakthrough in the EC summit discussing the
COVID-19 recovery plan. The summit was scheduled to resume at 1500BST(now
reported to begin at 1700BST) and without further comment the rate pared gains,
easing to a fresh intraday low of $1.1403. However, the dip has attracted fresh
demand as we head into the 1600BST fix, with hopes likely to be revived for a
positive outcome for the COVID plan. Rate recovered to $1.1444, currently around
$1.1440. Resistance remains at the earlier high of $1.1468, a break and clear to
expose the YTD high at $1.1495(Mar9). Support remains into $1.1400 ahead of tech
support at $1.1394.
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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