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Disappointing Germany Ifo Wednesday.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Disappointing Germany Ifo Wednesday acted to press the EUR lower
through Wednesday trade, EUR/USD broke below its YTD low of $1.1177 before it
met some support ahead of $1.1150 then extended move to $1.1141. Rate performed
a partial recovery but met resistance around $1.1160 ahead of the close. Rate
consolidated Wednesday's losses through Asia within a range of $1.1145-60. Rate
did manage to make a brief show to $1.1161 in opening European trade but failed
to build. Rate currently trades around $1.1157. DXY reflected the general
strength of the USD as it cleared back above 97.71-77, currently seen settled
above 98.00(100.00 in view?). 
- ECB de Guindos speaks at 1230GMT in an otherwise light EZ calendar. 
- Focus on Riksbank(0730GMT), US Jobless Claims and Durable Goods(1230GMT).
Friday's US Q1 GDP dominating in the background.
- Support $1.1140 ahead of $1.1120/10. Resistance remains around $1.1160/65,
$1.1180.  
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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