Earlier suggestions that the much.......>

EURO-DOLLAR: Earlier suggestions that the much publicised option expiries for

today's NY cut, with strikes across $1.0775-1.0810 for a total amount of

E4.72bln (E4.13bln of this being EUR puts), appeared to hold true as rate was

contained with in a range of $1.0777-1.0816, the rate holding below $1.0800 into

the cut before dipping to an intraday low of $1.0767. Rate bounced back as the

USD lost ground across the board, reacting to short-end treasury yields which

fell sharply, FFR futures pricing in a chance of negative Fed rates beyond 2021,

the rate pushing up to post fresh intraday highs of $1.0833. Risk was also given

a boost on reports that the US are withdrawing all military hardware from Saudi

Arabia, seen as a big de-escalation with Iran. Attention will move across to the

US Employment Report Friday, following on from Weekly Jobless Claims released

earlier today which showed no slowing down in claims. NFP forecast to fall by

20.5mln.

- Rate retains a firm tone at writing, expected to meet resistance into $1.0850

ahead of $1.0863(38.2% $1.1018-1.0767), stronger interest into $1.0890/1.0900.

Support seen back at $1.0800/1.0790, $1.0767(rising support Mar23).