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Extends recovery through Monday's.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Extends recovery through Monday's high of $1.2462, edging above its
1.0% envelope(drawn around the 10-dma) which today comes in at $1.2469. Not a
resistance in itself though rate normally doesn't stay outside of the envelope
for too long. The 2.0% envelope today comes in at $1.2593. The move seen
bringing the $1.2500 level within touching distance. As mentioned earlier, will
expect ECB officials to begin making comments if rate breaks above $1.2500 on
the strength of the Eur.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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