Opposite move to what was seen..........>

EURO-DOLLAR: Opposite move to what was seen Wednesday, where the USD shook off

earlier negative pressure (dropped back from a high of $1.1214 to $1.1183, today

we saw rate touch an extended low of $1.1174 (making a show below reported

support area between $1.1190/80) before it spiked to a pre fix high of $1.1251,

retracing 50% of the move to $1.1212 in post fix trade. Traders reported the

move up was accompanied by a volume spike (futures saw over 13,000 contracts

change hands inside five minutes, equivalent to E1.6bln), a break below the

50-dma in S&P 500 for the first time since Dec and a resulting squeeze on UST

yields. Today's moves have seen rate make shows outside of its recent trade

parameters, support/resistance levels of $1.1180/90 and $1.1220 but seen

settling back within. Resistance now seen at $1.1255/65 (50-dma/55-dma, May1

high), a break to expose $1.1300. Support $1.1200, $1.1192(76.4% $1.1174-1.1251)

ahead of $1.1174. Risk has been the key driver of trade in recent sessions as

market was pressed into aversion due to US Trump comments on the current Sino-US

trade talks. The Chinese delegation is in town for talks, any headlines from

this meeting to be watched.