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Downside pressure persists as rate......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Downside pressure persists as rate breaks below $1.1042 to extend
lows to $1.1036. The YTD Aug01 low at $1.1027 now exposed, a break here to open
a move toward $1.1000. As mentioned in recent bullets, month-end flow seen
providing the demand for the USD, with the US Labor Day holiday looming this
weekend, with some option linked counter suggested with the $1.1050 level
holding the strike of E1.68bln of EUR puts, and $1.1000/1.0997 area holding
strikes for a further E1.71bln of EUR puts. 
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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