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Dropped back from its post fix..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Dropped back from its post fix intraday high of $1.1214 to $1.1183,
the move meeting support around the 76.4% retrace level of the recovery from
Tuesday's low of $1.1167 to the mentioned high of $1.1214. Rate currently trades
around $1.1188. Weak suggestions have been around during the day that a certain
Euro-Asian cenbank could have been active on the bid side between $1.1190/80
though no confirmation found for this. The USD generally seen trading firm in
post Europe trade as it reverses earlier losses after being under pressure for
most of the day, aided by UST yields recovering off earlier lows. Resistance
remains in place between $1.1210-20.
-US PPI data, trade balance for March and the Norges Bank rate decision take
focus Thursday. Speeches from Fed's Powell, Evans and Bostic are also due. 
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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