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Further US Trump criticism of the Fed...>

MNI (London)
EURO-DOLLAR: Further US Trump criticism of the Fed Thursday prompted some early
pressure on the USD into NY trade, the react was to lift the rate up to $1.1199
before meeting headwind resistance. Rate then reversed as focus switched to
Germany and Italy, the former a Reuters German govt official source report
suggested the govt is considering issuing new debt linked to climate protection,
the latter as Dep PM Salvini called for fresh elections. Sources suggested that
PM Conte could seek a no confidence vote. This items acted to weigh back on
EUR/USD, took rate down to $1.1177 into the close. Rate performed a slow
recovery through Asia, edged from an opening low of $1.1180 to $1.1198, again
seen meeting resistance on approach to $1.1200. Traders note that E1.07bln of
option interest rolls off at today's NY cut. A break of $1.1200 to open a move
toward $1.1220 ahead of Thursday's high of $1.1232 ahead of $1.1240/50. Support
$1.1180/75, $1.1150.
- Germany Trade at 0600GMT, France IP 0645GMT, Italy HICP 0900GMT. 
- Watch for Trump tweets on US-China trade spat, criticism of Fed.     
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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