EUR/USD sank to an eventual low.........>

EURO-DOLLAR: EUR/USD sank to an eventual low Friday of $1.1356, as positions

were adjusted ahead of this week's Christmas holidays, then edged back to

$1.1375 ahead of the close. USD generally underperformed in Asia, in a holiday

thinned Asia-Pac session(Tokyo closed for the Emperor's birthday), pressured by

uncertainty stemming from the ongoing gov't shutdown & more pertinently, chatter

of Trump wanting to remove Fed Chair Powell over the weekend (played down by

U.S. admin), in addition to U.S. Tsy Sec Mnuchin "liquidity checking" the

largest U.S. banks via phone calls. EUR/USD also gained on the weekend Italian

Senate approval of the budget deal the gov't struck with the EU, though ECB

Weidmann lamented the compromise. Also worth noting that weekend rhetoric out of

China re: U.S. trade matters, pointed to further positive developments, despite

cautious comments from U.S. trade hawk Peter Navarro late Friday. EUR/USD edged

to a high of $1.1393 before momentum faded, though found support at $1.1380 into

Europe. Europe expected to continue subdued trade, many European centres closed,

others expected to close early.

- Support $1.1380, $1.1356. Resistance $1.1400-10, $1.1420-25.