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Minor USD sales across the board this...>

EURO-DOLLAR
EURO-DOLLAR: Minor USD sales across the board this morning led by moves in the
DXY briefly saw Eur/Usd pop to fresh highs of $1.2188, before fading. The pair
has only traded a narrow 28 pip range as the very large E5.24bn $1.2200 expiry
could feature ahead of today's NY cut (1400GMT). Prior to this of course we have
the ECB rate decision and press conference at 1145GMT/1230GMT respectively. No
change is expected in rates or forward guidance with main focus on the press
conference. Analysts expect Draghi to remain cautious acknowledging the poor run
of recent data. Eur/Usd last $1.2177. 

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