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EUR/USD recovered off its Wednesday.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: EUR/USD recovered off its Wednesday low of $1.1764 before meeting
resistance at $1.1820. Pullback was contained at $1.1778 before rate edged back
toward that $1.1820 level into the close. Rate initially drifted off to a low of
$1.1806 in early Asia before the USD lost ground across the board, some suggest
move linked to China MOFCOM comments on US trade, while others suggest recent
USD appreciation may be getting close to a level which may prompt comment from
US Trump. Rate jumped to $1.1838 but momentum quickly faded easing back to
$1.1814 into early Europe. UST 10-Yr yield holds above 3.10% but some profit
taking in USD longs seen providing resistance to further USD gains. A light data
calendar in Europe today. ECB VP Constancio is set to speak at 1030GMT. US
Weekly Jobless Claims and May Phila Fed due at 1230GMT. Fed Kashkari and Kaplan
due to speak this afternoon.  
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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