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Friday's recovery stretched to..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Friday's recovery stretched to $1.1319 through Asia and Europe,
stretching on to $1.1324 in early NY before it drifted off to $1.1294 through
the 1600BST fix, touching $1.1293 ahead of the close. A strong open in major
Asia-Pac indexes(risk outlook given a boost by China export growth Friday)
weighed on the safe haven currencies and allowed rate to edge to $1.1314. Weak
momentum eventually faded and rate eased off to $1.1306 into early Europe.
Resistance remains between $1.1324/31, a break to expose $1.1350. Support
$1.1293 ahead of $1.1280 and $1.1250. A light data calendar Monday, US Empire
State data due at 1230GMT. Easter weekend approaching to make for a shorter
week.  
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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