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EUR/USD failure to clear above..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: EUR/USD failure to clear above $1.1450, in its FOMC react move
(high $1.1448 Wednesday), saw rate drop below $1.1400 in early Europe. Traders
suggested the carry potential of the USD proved to be the attraction back into
the US unit, with some also wondering what global growth outlook the Fed based
its dovish call, as behind the reversal in USD fortunes. EUR/USD erased all of
its FOMC gains as downside pace picked up in NY, the rate touching a low of
$1.1343 through the 1600GMT fix with recovery efforts so far proving to be held
very shallow. Attention switches to the EZ Flash PMI's Friday with market
hopeful for some reversal of the recent pessimistic outlook. 
- Support $1.1343-36 ($1.1344 38.2% $1.1177-1.1448) ahead of $1.1300, $1.1280.
Resistance $1.1400/10, $1.1430, stronger into $1.1450.   
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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