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EUR/USD extended its recovery off.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: EUR/USD extended its recovery off Friday's(Feb15) low of $1.1234 to
$1.1334 Monday before momentum faded around midday GMT. Rate drifted back to
$1.1302 in a US and Canada holiday thinned market before it closed the day
around $1.1310. Rate touched an early high of $1.1314 in Tokyo before the
corrective pullback continued. Move down was seen on mild risk aversion, some
linked this to Trump administration weighing fresh EU auto tariffs. EUR/USD
broke under $1.1300, touched a low of $1.1293 with recovery efforts ahead of
Europe holding below $1.1300. Market awaits the return of North American markets
for fresh direction.
- ECB Praet said Monday that the Bank has seen an increase in risks to economy &
could adapt its rate guidance if EZ econ slows sharply. On TLTRO's Praet noted,
"in March we will make an assessment of the current and expected state of bank
transmission."
- EZ focus this week turns to German ZEW survey due later today, flash EZ PMI
data & ECB Jan meeting minutes due Thursday, as well as EZ CPI & German IFO
Friday. Elsewhere, there is plenty of ECB rhetoric scheduled for this week.   
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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