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Despite the release of improved.........>

EURO-DOLLAR
EURO-DOLLAR: Despite the release of improved Spanish Svcs PMI, EURUSD takes
another leg lower to hold at the base of its $1.1269-95 range. Recovery efforts
have so far remained shallow with near-term support at $1.1261 from the 100-dma,
below here opens the 55-dma & broken down trendline resistance drawn off Mar 4
2009 at $1.1232/30.
- A reminder of the very large option-expiries roling off for today's NY cut.
$1.1270-75(E1.28bln), $1.1290-00(E4.63bln), $1.1315-20(E925mln).
- Eurozone PMI's continue with Italy, France, Germany & EZ due within the hour.

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