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Eur-Usd: Asia open $1.1762, range......>

EURO SUMMARY
MNI (London)
EURO SUMMARY: Eur-Usd: Asia open $1.1762, range $1.1748-66. Europe open $1.1758,
range $1.1740-94. 
* Monday recovery from $1.1731 to Tuesday's high of $1.1828 corrected to $1.1745
in NY then close at $1.1762.
* Move lower Tuesday was aided by suggestions that US Republicans had mad
progress on Tax Reform and the Debt Ceiling. 
* Rate eased to $1.1748 in early Asia before the dollar came under pressure from
Trump comments.
* Threat to allow a Govt shut down if no funds for the Mexican wall, ending of
NAFTA talks took Eur/Usd to $1.1766. 
* Rate drifted lower in early Europe, position adjustments pre ECB Draghi in
Landau saw rate touch $1.1740.
* Any disappointment from no mention of QE  more than compensated for by release
of strong German Flash Mfg PMI data. 
* Eur/Usd spiked to $1.1794 before falter. Attention switches to Fed Yellen and
ECB Draghi appearance at Jackson Hole Friday.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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