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Eur/Usd spiked through $1.1800..........>

EURO-DOLLAR
EURO-DOLLAR: Eur/Usd spiked through $1.1800 yesterday after the perceived dovish
Fed hike, gains extended to the $1.1825/30 area and consolidated into the NY
close. Minor dip in early Asia was supported by Eur/Jpy Japanese real money
demand to largely hold $1.1830/40. As UST yields firmed ahead of Europe, rate
slipped to $1.1819 before momentum faded. Option-related demand is seen through
$1.1820/00 (Expiries E2.32bn).
* Busy on the European calendar today with main highlights from flash services
and mfg PMI data. France crosses the wire at 0800GMT, Germany at 0830GMT and the
euro area data at 0900GMT.
* The first of the central bank announcements comes at 0830GMT, when the SNB lay
down their latest policy decision. The Norges Bank will announce at 0900GMT.
* At 1245GMT, the ECB's latest monetary policy decision is due, with President
Mario Draghi's press conference due at 1330GMT.
* Option-expiries at $1.1610(E1.72bn), $1.1655(E444mn), $1.1700(E1.19bn),
$1.1800(E1.2bn), $1.1815-20(E1.12bn), $1.1860(E728mn), $1.1864-65(E757mn),
$1.1900(E601mn), $1.1930(E329mn), $1.2000(E489mn).

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