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*** Corrective pullback, away from......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: *** Corrective pullback, away from Monday's high of $1.1961,
extended to $1.1885 in early Europe before meeting decent demand that cushioned.
Bids have been noted through to $1.1880, with talk also of stops in place on a
break of $1.1860. 
* Usd short positioning seen 'overstretched' therefore open to a squeeze.
- Comments from Powell and Fed Dudley last night hawkish and prompted Usd
correction.
- Powell Q7A 1500GMT in focus
* Positive reports of Black Friday retail sales, positive outlook for Cyber
Monday prompts hopes for US Retail Sales 
* End month approaching and models suggest Usd sales to be seen at the fixes. 
* US Tax developments in Thursday keenly watched. 
* Options: $1.1800(E1.51bn), $1.1825-30(E553mn), $1.1900(E488mn),
$1.2000(E1.01bn) 
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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