EUR/USD hit a late Thurs low of.........>

EURO-DOLLAR: EUR/USD hit a late Thurs low of $1.1564, and last deals at $1.1571.

- EUR rallied on the ECB's formal APP taper announcement on Thursday, before

pulling back sharply and extending lower as the central bank committed to

leaving rates unchanged until after Summer 2019. This, twinned with the ongoing

data-dependency of APP (Draghi didn't rule out firing up APP again in the

future), gave a dovish tilt to today's meeting. A RTRS sources piece, released

later in the day, suggested that the ECB was more divided than Draghi suggested

in his press conference. The piece stated that "European Central Bank

policymakers meeting on Thursday differed on whether to keep the door more open

to a new extension of the ECB's stimulus scheme and on the likely timing of its

first rate hike since 2011, three sources said." ECB's Nowotny, Coeure & Smets

will get a chance to speak on Friday.

- Support comes in at hourly resistance from May 30 ($1.1549) followed by the

YtD low ($1.1506) Resistance is noted at yesterday's hourly support ($1.1618).

- Nearby notable FX option expiries of note for today's 10AM NY cut: $1.1600

(E1.34bln), $1.1650 (E1.12bln), $1.1700 (E3.29bn).