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EUR ignored earlier comments from.......>

EURO-DOLLAR: EUR ignored earlier comments from ECB's Coeure which offered little
new, along with a WSJ report from the weekend which noted that "the ECB recently
received legal advice that a French member of its executive board, Benoit
Coeure, could be elevated to president, people familiar with the matter said,
adding another potential candidate to the pool. Many European officials had
assumed executive-board members were ruled out under European law." The article
also noted that German Jens Weidmann, considered the front-runner by many, may
be deemed too divisive (this isn't a new argument).
- EUR/USD last deals 15 pips or so higher at $1.1760, hesitating ahead of
$1.1774 (55-DMA). Downside interest is noted at $1.1723 (alternating daily
- EUR traders' near term focus will likely fall on addresses from ECB's Draghi &
Nowotny later today, with one eye on Brexit/government developments in the UK
after UK Brexit Minister David Davis stepped down from the role.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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