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Having largely consolidated.............>

EURO-DOLLAR
EURO-DOLLAR: Having largely consolidated $1.1855-65 overnight, late euro-based
demand spilled over into Europe with a move to extended session highs of
$1.1885. Despite this markets remain extremely quiet with next resistance seen
at $1.1896 (Dec25 high), light offers expected behind ahead of $1.1900 which
also holds optional expiry interest (E782mn) for today's NY cut. Eur/Usd last
$1.1880.

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