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Extended recent easing, the rate........>

MNI (London)
EURO-DOLLAR: Extended recent easing, the rate making a show under $1.1100 to
$1.1092 as markets reacted to dovish comments from ECB member Rehn (WSJ). Rehn
does not sit on the ECB executive board but has influence. Suggested
'significant and impactful' easing package in Sep. Rate recovered through the NY
afternoon to $1.1119, closing the day around $1.1110. Rate touched an early high
of $1.1112 in Asia before it slipped to $1.1096, holding below $1.1100 for a
while before slowly clawing its way back to $1.1106 into early Europe. Asian
traders have noted option expiries in the area around $1.1100 and suggest these
could keep rate anchored ahead of the run off; of note, $1.1080-85(E652mln),
$1.1095-00(E1.05bln), $1.1110-25(E738mln).
- EU Trade data due at 0900GMT in an otherwise thin data morning.
- US Building Permits, Housing Starts at 1230GMT, Michigan Sentiment 1400GMT, St
Louis and NY Fed GDP Nowcast at 1500GMT and 1515GMT respectively. 
- Support $1.1092, $1.1080(76.4% 1.1027-1.1250). Resistance $1.1120, $1.1140,
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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