Rate saw an extended high of $1.1486....>

EURO-DOLLAR: Rate saw an extended high of $1.1486 during Thursday's European

morning before rate dropped back, traded down to a low of $1.1402 as NY added

weight. Into the London fix and the USD came under another round of pressure,

allowed rate to recover to $1.1485 before it sank back to $1.1445 into the

close. Early Asia edged rate back to $1.1462 before it drifted off to $1.1442 in

a fairly subdued Asian session. Rate was trading back at $1.1456 into Europe.

Decent resistance was met Thursday around the $1.1485 level, prevented moves

toward $1.1500 where large option expiries were sat. Option expiry interest

today at $1.1475-85(E1.16bn), $1.1500(E2.44bn), with largest interest at

$1.1535-40(E4.81bn), which could keep upside attraction in place. Rising chance

of a US Govt shutdown over the Christmas period also seen weighing on the USD,

along side equities and therefore risk. Germany GfK Consumer Confidence came in

slightly above expectations at 10.4 and seen adding to early Europe buoyancy. 

- Support $1.1442, $1.1400. Resistance $1.1485-1.1500, $1.1535-40.