EUR garnered attention on Monday,.......>

EURO-DOLLAR: EUR garnered attention on Monday, underperforming at the NY

crossover, then rising during an appearance by ECB President Draghi, as he

stated that he sees a "relatively vigorous pick-up in underlying inflation." The

comments saw EUR/USD briefly show above $1.1800, before fading to $1.1750, where

the pair trades last. Some noted Draghi's comments were justification for the

ECB's most recent economic projections, as opposed to fresh information or

identification of a recent trend.

- Marginally stronger than expected German IFO data also provided some early

support to the rate on Monday, although the metric still slowed vs. the prior

reading.

- Above $1.1724 keeps the broader uptrend intact, with near-term resistance at

the June 14 high ($1.1851). Conversely, a close below the 100-DMA ($1.1661)

would shift focus back to the downside.

- Looking to the remainder of the week, EZ economic releases are headlined by EZ

CPI data, due Friday. Elsewhere ECB rhetoric will draw attention, with Draghi,

Praet & Coeure all set to speak during the remainder of the week.