Rate managed to stretch up to $1.1362...>

EURO-DOLLAR: Rate managed to stretch up to $1.1362 in European morning trade,

just surpassing Monday's high of $1.1359, but failed to build despite two

further shows above $1.1360 into NY. Traders earlier suggested resistance at

$.1363(76.4% $1.1420-1.1177), more between the 50-dma at $1.1360, and the 55-dma

at $1.1364 ahead of the 100-dma at $1.1367. Following failure to push higher

rate eased off to $1.1339 (becoming a trend where Europe take rate higher only

for NY to ease it back, suggested differing position views ahead of Wednesday's

FOMC). Rate settled between $1.1345-60 through to the Europe close, currently

trading around $1.1357 at writing. Germany PPI due for release Wednesday at

0700GMT though to be overshadowed by later FOMC announcement at 1800GMT.

Support $1.1340 ahead of $1.1325, stronger into $1.1300. 

- Option expiry of note for Wednesday's NY cut, $1.1390-1.1400 for E1.97bn.