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Posted an extended recovery high of.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Posted an extended recovery high of $1.1384 in Friday Europe
morning trade before it dropped to $1.1283 in reaction to the release of better
than forecast US jobs data which boosted the USD. However, the release also
boosted risk which pulled rate in two directions though recovery efforts were
capped into $1.1325 before it settled below $1.1300 through to the close. Asia
took over the baton of risk on trade, linked to the US data release, edged
EUR/USD to $1.1320 before momentum faded and it drifted off to $1.1283 in early
Europe. Early focus on release of Germany IP at 0700BST, forecast -16.8%mm. EU
Sentix Investor Confidence due at 0930BST. ECB Lagarde makes two appearances
today at 1445BST and 1645BST.
- Risk remains the key driver for direction. 
- Support $1.1280, $1.1250, $1.1210/1.1195. Resistance $1.1320/25, $1.1345/55,
$1.1380/85.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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