Rate recovered off a Friday low of......>

EURO-DOLLAR: Rate recovered off a Friday low of $1.1433 to $1.1535 post London

fix. Corrective pullback remained above $1.1500 ahead of the close. Early Asia

consolidated within a tight range around $1.1515 before it was pressed down to

$1.1498. However, move said to have met willing buyers into the dip, and with

the help of Chinese equity recovery, rate edged to $1.1520 where it reportedly

met mild resistance. Rate has since drifted off to the $1.1510 in slow trade.

Support remains around $1.1500(level holds the strike of an expiring option at

today's NY cut E1.6bn), a clear break below to open a deeper move toward

$1.1484/72(50%-61.8% $1.1433-1.1535). Resistance seen at $1.1520 ahead of

$1.1535. A light domestic data calendar Monday, attention will be on Italy's

response to EU letter regarding clarifications on their Budget(due by 1000GMT).

Risk was given a boost by the recovery in Chinese equities, though most suggest

this may have been aided.