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Early reaction to EU Barnier............>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Early reaction to EU Barnier comments, further easing Brexit
negotiations concerning the Irish border, boosted cable which took EUR/USD
higher with it. EUR/USD jumped to an overnight high of $1.1682 before general
USD strength provided the counter and eased it back to $1.1655. Early Europe saw
rate pick up fresh demand, lifting it to a fresh intraday high of $1.1687, with
rate holding firm at writing. Comments in late Asia from Chinese Premier Li
Keqiang, who was speaking at the World Economic Forum(WEF), especially one
statement, 'China will not devalue its currency to boost exports' added to the
recent risk-on tone. Light data calendar for the EZ Wednesday, focus on UK
Inflation at 0830GMT, with ECB Draghi due to speak later at 1300GMT. EUR/USD
resistance seen between $1.1695/10. Support $1.1656/47.  
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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