EUR/USD has held above $1.1600 in.......>

EURO-DOLLAR: EUR/USD has held above $1.1600 in early dealing this week, and last

deals at $1.1607. - Over the weekend ECB's Coeure reiterated the ECB's interest

rate outlook to Taggespiegel, noting that the Eurozone "economy is growing,

unemployment has fallen significantly & price pressure is gradually picking up."

- Elsewhere ECB's Rehn stressed that the normalization of MonPol will be a very

drawn out affair.

- Italian budget concerns dented risk appetite on Friday to keep the pair's

recent downtrend intact. Bears remain in charge suggesting a resumption of

weakness towards the September 10 low ($1.1526). Bulls initially need to reclaim

the 100-DMA ($1.1653) to change the short-term outlook.

- PMI readings from across the EZ & German retail sales will draw attention

today, along with an address from ECB's Villeroy.