Monday saw rate recover off an Asian....>

EURO-DOLLAR: Monday saw rate recover off an Asian low of $1.1236 to $1.1262 in

NY, with markets generally thin due to the European Easter holidays. Early Asia

Tuesday saw rate consolidate around $1.1260 before JPY demand at the Tokyo fix

dropped rate to $1.1245 via sales of EUR/JPY. Move was seen as carry over risk

aversion linked to confirmation of the end of the US oil waiver for Iranian oil

exports, as well as some suggesting Japanese exporters JPY demand ahead of the

Golden Week holidays, which begin Monday Apr29. Rate did manage to recover to

$1.1255 but pressed back below $1.1250 into Europe. Support remains at the

earlier low of $1.1245 ahead of Monday's low of $1.1236 and the Apr18 low of

$1.1226. Through here and attention to switch to $1.1200 ahead of $1.1184.

Resistance $1.1261 (E2.4 bln of option expiries roll off today between

$1.1250-60) ahead of $1.1300/05. 

- Option expiries of note at today's NY cut include $1.1195-1.1200(E1.27bln),

$1.1250(E1.87bln), $1.1255-60(E529mln) 

- EZ Consumer Confidence data at 1400GMT along with US New Home Sales.