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Rate extended low to $1.1166 in the.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate extended low to $1.1166 in the NY/Asia transition but managed
to settle back above $1.1170 for the balance of the session. However, recovery
efforts were capped at $1.1180. Reported comments in China press has suggested
officials there have no interest in continuing trade negotiations with the US
now, see little sincerity in US Trump's approach, weighed on risk through Asia,
though little effect, apart from keeping downside pressure on the rate, seen.
Support seen at $1.1171/66 ahead of $1.1159(May06 low), more expected into
$1.1150. Break here to expose $1.1135/30. Resistance $1.1180, $1.1200,
$1.1220/30.
- Data outlook for Friday brings EZ CPI final, not usually revised and often not
a major market mover.
- US prelim UofM and Leading Index at 1400GMT. Fed Williams due to speak at
1515GMT, 1800GMT.   
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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