Rate continues to trade with a heavy....>

EURO-DOLLAR: Rate continues to trade with a heavy feel into early Europe trade.

The post ECB reactive sell off, timing of a rate hike pushed out to end of 2019

more than countered the announced timetable for end of QE, has extended to

$1.1548, breaking below Thursday's low of $1.1564 and the earlier Asian low of

$1.1555. Next technical support seen at $1.1519/10(May30 low/May29 and YTD low).

As mentioned Thursday, longer term funds had been rumoured to have interest to

fade up at the $1.1890/1.1910 looking for an eventual move down to $1.05/1.04.

Most banks however have kept their end year calls for around $1.25 in place so

far.