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FOMC Wednesday provided the much........>

MNI (London)
EURO-DOLLAR: FOMC Wednesday provided the much expected 25 bps cut but the
accompanying comment was seen less dovish than some had hope for. This prompted
strong USD demand, provided the necessary weight to take EUR/USD through support
at $1.1100 to an eventual session low of $1.1060. Rate recovered to $1.1077 into
the close. Early Asia marked a high of $1.1082 before fresh USD demand emerged,
took USD/JPY up through its resistance at Y109.00 and in turn pressed EUR/USD to
a low of $1.1034, after filling reported decent demand around the $1.1050 level.
Rate recovered to settle around $1.1050 into Europe, currently trades around
- Support now seen at that $1.1034 low ahead of $1.1025 and stronger into
$1.1000. Resistance $1.1080, $1.1100. 
- Morning focus on EZ PMI data, beginning with Spain at 0715GMT, EZ at 0800GMT. 
- US Weekly Jobless Claims at 1230GMT, US Markit Mfg/ISM Mfg at 1345GMT/1400GMT
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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