EURUSD traded around neutral levels.....>

EURO-DOLLAR: EURUSD traded around neutral levels for most of the session last

dealing just shy of 1.1745.

- Hourly resistance is noted between 1.1170-80, while support comes in at the

June 08 low/May 31 high (1.1727/25), followed by the Jun 06 low/hourly base from

Jun 05 (1.1713/08).

- Nearby FX option expiries of note at today's 10AM NY cut: $1.1675-80(E900mln),

$1.1700(E2.05bn), $1.1705(E1.31bn), $1.1720-25(E1.32bn).

- The immediate risk event is of course the Fed's MonPol decision. With a hike

baked in focus will fall on the press conference/economic projections.

- On Thursday it will be the turn of the ECB to issue its latest MonPol

decision. Interest has peaked after some source reports and comments from ECB

governing council members suggested that the decision could be "live" i.e. the

meeting could indicate when the ECB plans to bring its QE programme to an end.

On Jun 01 MNI`s Policy team cited Eurosystem sources noting that a June

decision/statement on QE end-date was not expected. While our ears remain to the

ground, we have heard nothing since then to think that has changed.