Having made a show under the recent.....>

EURO-DOLLAR: Having made a show under the recent low of $1.1325 in European

morning trade, the rate touching a low of $1.1323, it recovered to $1.1344 ahead

of NY before it lifted on to $1.1351 before upside momentum faltered. As has

been seen in recent sessions recovery efforts have proved laboured and attracted

fresh sales with rate today pressed to a fresh low of $1.1321 into the 1600GMT

fix. Rate performed a minor recovery to settle around $1.1330 but underlying

remains heavy. Growth concerns have been providing the main directional drivers

with next week bringing German and EZ GDP data on Thursday Feb14, will have to

wait and see if the EUR can attract any love from these releases. ECB de Guindos

speaks in Madrid Monday(Feb11 0800GMT); ECB Coeure speaks in NY Friday(Feb15,

1300GMT). China returns from its Lunar New Year week long holiday on Monday

which could provide fresh directional input.

- Support $1.1320, $1.1300, stronger between $1.1290/80. Resistance $1.1350/60

ahead of $1.1380 and $1.1400-10.