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Expected downward revisions to ECB......>

EURO-DOLLAR
EURO-DOLLAR: Expected downward revisions to ECB growth & inflation forecasts
keeps EUR on the defensive and holds around session lows of $1.1255. The ytd Feb
15 low is now within touching distance at $1.1234, a break brings the Nov 12 low
& 61.8% retracement of $0.8230-1.6038 at $1.1216/13 back into view. 

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