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EUR/USD last $1.1279, a touch higher....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD last $1.1279, a touch higher on the day, after falling
almost 50 pips yesterday on the back of concerns re: EZ growth & stability
playing out against broader USD strength. 
- The Italian government's conflict with the country's central bank escalated
yesterday, after the League's lawmaker Borghi proposed legislation stating that
$103bn worth of gold holdings deposited in the bank belongs to the Italian
state. The ruling coalition's League party went on to draft a law proposal which
would eventually allow the gov't to sell the country's gold reserves via a
change to the constitution. 
- Bears look for a fall through yesterday's YTD low of $1.1267, ahead of the
lower Bollinger band (3%) at $1.1229, while bulls target the $1.1300 figure,
followed by $1.1330, where the rate peaked yesterday. 
- EZ focus this week turns to German & EZ GDP figures due Thursday. Elsewhere,
ECB's Lane (nominated for the Bank's chief economist yesterday), Weidmann &
Lautenschlaeger are due to speak later today, Lane will also speak Wednesday,
while Coeure & Angeloni are set to speak Friday.

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