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EUR/USD sits 3 ticks higher last, at....>

EURO-DOLLAR
EURO-DOLLAR: EUR/USD sits 3 ticks higher last, at $1.1375. 
- The rate stuck to a ~55 pip range yesterday, edging 20 pips lower on the day.
Its movement was primarily driven by news on German C'llr Merkel planning not to
run for party leadership towards the end of 2019 & for another term as head of
the gov't after her tenure ends in 2021. 
- The recent downtrend remains intact after yesterday's false breaks above
$1.1400. Bears eye Friday's low of $1.1336 before moving lower to Aug lows at
$1.1301. Bulls need a break above Monday's high at $1.1416 before targeting
reported resistance at $1.1440. 
- Points of note today include EZ GDP, German CPI & a number of ECB speakers,
with EZ CPI & labour mkt data due Wednesday.

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