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Summary: USDBRL Extends Losses To Near 2%


Needle Still Points North


Focus on Midweek BoC, ECB Policy Announcements


EUR Crosses Come Under Pressure As ECB Beckons

EURO SUMMARY: Euro/dollar: Europe open $1.1974, range $1.1972-1.2070, NY open
$1.2035, range $1.1973-1.2059
*Pullback contained at $1.2018 before fresh demand emerged that took rate
through next barrier at $1.2050 and on to $1.2070.
*The pair slipped to pullback lows of $1.2032 ahead of the NY open. NY arrived
putting pressure on the dollar as the rate grinded towards $1.2050.
*The dollar received a lift following US Tsys yields and profit takers
emerging saw the rate drop to pullback lows of $1.2010.
*A fresh wave of euro demand through the crosses (yen,chf,aud and
gbp) witnessed the rate follow suit, as the pair rose towards $1.2040.
*The dollar received a lift, following XAU slipping from its highs and
US Tsys yields paring back some of its losses, saw the rate drop
to pullback lows of $1.2002.
*Broad based dollar demand as the DXY index turned positive, witnessed the rate
crash to pullback lows of $1.1973. Dip buyers emerged pushing the rate towards