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EUR/USD retested Friday's low of........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: EUR/USD retested Friday's low of $1.1066 and again met support.
Earlier reports had suggested demand in place at and below $1.1070, possibly
linked to option expiries between $1.1040-60 for Aug22 (E2.5bln). Italian
politics provided the main drive. Resignation of PM Conte was taken as a
tentative positive and rate was able to recover to $1.1107 in late NY trade,
closing the day at $1.1100. Rate was pressed down to $1.1091 in early Asia
before it bounced to $1.1105, aided by the positive react in risk and EUR/JPY to
news that Japanese company JSR has been given a permit to resume shipments to
S.Korea. Recovery quickly lost momentum and rate has since eased to $1.1092 into
early Europe. 
- Minor support $1.1090 ahead of $1.1070/66. Resistance $1.1105/15.
- Light EZ data calendar, focus on this evening's FOMC Minutes ahead of Fed
Powell appearance at Jackson Hole Friday. 
- Italy politics still in focus. Watch for Trump tweets.  
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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