EUR shows a positive reaction as the....>

EURO-DOLLAR: EUR shows a positive reaction as the ECB says it notes the German

Constitutional Court ruling on adding that it will ensure its policy is

transmitted to all parts of the eurozone and that it is fully committed to

inflation mandate after the ruling. EUR/USD nudged from around $1.0834 to

$1.0857 and currently holds firm, though reaction fairly muted. Rate had earlier

broken through support at $1.0886/88, following the ruling from the German Court

that the ECB's PSPP programme may not be compatible with some EU treaties, and

quickly slipped to a low $1.0826. Recovery managed to push back to retest the

broken support area but momentum quickly stalled for the rate to fall back to

$1.0834 ahead of the ECB comments. Resistance remains around $1.0886/88, a break

to open a move back toward $1.0900 ahead of $1.0920/25.