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Corrective pullback away from...........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Corrective pullback away from Monday's early NY high of $1.1263
extended to a low of $1.1222 into the close, with opening Asia easing move to
$1.1220 before buyers emerged. Rate recovered into the Tokyo open, helped by
early sales of JPY, despite Nikkei dropping 1.9% at its open. Tokyo fix JPY
sales fuelled the move as EUR/JPY pressed higher and took EUR/USD back up to
$1.1232, extending on to $1.1241($1.1242 50% $1.1268-20) into Europe as US Trump
positive comments as to the outcome of Sino-US trade talks boosted risk.
Resistance now seen to $1.1250, a break to expose Monday's high of $1.1263.
Support remains at $1.1220.
- Germany CPI released at the forecast level. EZ IP and Germany ZEW at 0900GMT
provides next data focus.  
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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