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Rate squeezed down to a low of..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate squeezed down to a low of $1.1142, Tuesday after it eventually
broke under reported support at $1.1150. Recovery off the low was given a
sterling led boost pre 1600BST fix to $1.1188. Markets reacted to PM May's offer
of a second referendum if her withdrawl bill was passed in early June. However,
voiced objections to this plan quickly saw sterling strength evaporate and
EUR/USD tracked cable's reversal back to $1.1154. EUR/USD recovered to $1.1166,
closing the day at $1.1161. Early Asia edged rate back to retest $1.1166,
failure to push higher saw it drift back to $1.1160, then given an added shove
lower ahead of Europe to $1.1153 as risk was given a general knock by a press
report suggesting the US is weighing up blacklisting up to 5 Chinese
surveillance firms. Rate remains soft at writing.
- Support $1.1142, $1.1135/30. Resistance $1.1188, $1.1200/10. 
- ECB Draghi speaks at 0700GMT "Monetary policy in an incomplete Monetary
Union".
- US FOMC Minutes to be published at 1800GMT. 
- European elections Thursday, results due Sunday, moves into view.   
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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