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EUR shrugs off further comments from.........>

DOLLAR
DOLLAR: EUR shrugs off further comments from Italy's European Affairs minister
(and staunch Eurosceptic) Savona who states that Italy needs to be ready for all
eventualities on Eurozone membership and that the ECB may weather the trade war
with powers on exchange rates. DXY remains higher, but sits off the best levels
ahead of the Wall Street open with volumes remaining light across the board. In
FX options, lower volumes in EUR/USD and USD/CNY hedging are being compensated
somewhat by a strong day for USD/TRY options trades, but there remains little
price action or volatility ahead of the semi-annual Fed policy testimony on
Friday.

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