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EURO-DOLLAR: Early NY saw strong general USD demand, prompted by decent earnings
reports out of the US, and acted to press EUR/USD through $1.1200 before meeting
support at $1.1192, just shy of the Apr2 low of $1.1184. Rate recovered to
$1.1216, finding support above $1.1210 in post Europe trade.
- Support now seen at $1.1192-84 ahead of the Mar07 YTD low of $1.1177.
Resistance $1.1220, $1.1260.
- Wednesday German IFO, Bank of Canada rate decision are the highlights, with
more US earnings due as the S&P500 comes within 10 points of all-time highs.