EUR/USD spiked to highs of $1.1758......>

EURO-DOLLAR: EUR/USD spiked to highs of $1.1758 Wednesday as it reacted to an

ECB source story that said ECB policymakers are split on the meaning of `through

summer' & on the timing of the first rate hike. However, as the stronger USD

theme prevailed, the rate reversed to lows of $1.1666. Rate recovered in Asia to

$1.1686 ahead of the European open only to run into supply which has punched

rate back to $1.1672. Failure to extend the intraday base has taken rate back to

$1.1682 as it attempts to make a break out. Some thawing in the US/China trade

spat but markets remain wary with plenty of headline risk possible. US Trump

attends NATO in Brussels before he begins his European trip to the UK. EZ IP at

0900GMT(market median 1.2%mm vs last 0.9%) provides main domestic data focus,

moving on to US CPI at 1230GMT(market median 0.2% for headline and core).

Support remains at $1.1670/66, $1.1650. Resistance $1.1686, $1.1700.