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*** Early probe back under $1.1800......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: *** Early probe back under $1.1800 (Asia low $1.1803) saw rate
touch $1.1796 but failed to find any major stops. Buyers emerged into the dip
with rate able to sit back on $1.1800. Talk in Asia placed demand interest in
the $1.1790/80 area, a break to expose next technical support at $1.1765.
Resistance noted at $1.1824/28(Asia high/Aug21 high), a break to expose the
$1.1850 level which holds the strike of a large expiring option for today's NY
cut, E2.26bn. Focus remains on ECB Draghi, appears in Lindau Wednesday (6th
Lindau Meeting on Economic Sciences), then Friday's Jackson Hole speech. Market
seen positioned for a possible mention of ECB tapering. Fed Yellen also due to
speak at Jackson Hole Friday. 
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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