Rate posted a low Thursday of $1.1575...>

EURO-DOLLAR: Rate posted a low Thursday of $1.1575 before it managed to recover

to $1.1620. A drift back to $1.1596 was sharply reversed as markets reacted to

comments from US Trump over the strength of the USD and US interest rates. Rate

spiked to $1.1678 before it drifted lower again, this time finding support at

$1.1632 ahead of the close. Late recovery extended into Asia as rate edged to

$1.1660 but this correction was countered as PBOC fixed USD/CNY higher than most

expected which in turn prompted risk off. EUR/USD was knocked down to $1.1626

before buyers re emerged. Rate recovered to $1.1665 ahead of Europe, the new

session extending it to $1.1671. Rate holds firm at writing, currently around

$1.1665. Resistance $1.1678/80(Jul19 high/61.8% $1.1745-1.1575), a break to open

a move on toward $1.1700. Minor support suggested at $1.1660 ahead of the

earlier Asian low of $1.1626.