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

EURO-DOLLAR: EUR ignored earlier comments from ECB's Coeure which offered little
new, focusing on the global trade war issue, 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." 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 20 pips or so higher at $1.1765, 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 his role.
- Nearby FX options expiry interest at today's 10AM NY cut: $1.1660-70(E881mn),
$1.1700-05(E1.03bn), $1.1750(E876mn), $1.1795-00(E710mn).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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