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Having earlier reclaimed $1.2200,.......>

EURO-DOLLAR
EURO-DOLLAR: Having earlier reclaimed $1.2200, recovery efforts squeeze to
$1.2239 ahead of the NY open. Rate seen approaching $1.2244-63 (50%-61.8%
$1.2323-1.2165), stronger resistance placed behind at $1.2288/97 (Hourly high
Jan17, Jan15 high). Traders look ahead to the release of Weekly Jobless Claims,
Building Permits and Phila Fed at 1330GMT. At 1430GMT EU ECB Executive Board
member Benoit Coeure participation in concluding panel at joint conference of
IMF and Deutsche Bundesbank "Germany - Current Economic Policy Debates", in
Frankfurt. 

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