ECB Draghi dovish comments provided.....>

EURO-DOLLAR: ECB Draghi dovish comments provided the impetus to take rate

through support at $1.1203 Tuesday, the break of $1.1200 boosted the momentum

before it met support into $1.1180(low $1.1181, May31 low $1.1180). Rate managed

to recover to $1.1210 ahead of NY before the US session moved down for another

look at support, then settled around $1.1195 into the close. Early Asia nudged

rate up to $1.1202 but struggled before it eased back to $1.1187. Rate trades

back above $1.1190 into Europe.

- ECB Draghi acknowledged that additional stimulus will be delivered if outlook

does not improve, noting that rate cuts are part of the ECB's tool box. The

Sintra forum continues with focus on other ECB speakers.

- Trump said Tuesday evening that formal China-US trade talks resume Wednesday.

Asked if he wanted to demote Fed Chair Powell he said let's see what he does.

Main focus is on tonight's FOMC announcement. Most expect no change and look for

a signal for a July cut. Suggestion that if Fed cut at tonight's meeting it

could bring in to play the Fed's independence. 

- E5.17bln of options roll off with strikes between $1.1190-1.1210.