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Rate was pressed to a low of $1.1675....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Rate was pressed to a low of $1.1675 ahead of the European open,
extending the corrective pullback away from earlier Asian high of $1.1702. Move
seems to have targeted some weak longs with buying emerging into the dip. Rate
currently trades around $1.1684. Traders aware of a decent sized $1.1665 strike
option expiry for today's NY cut, E1.03bn, which may attract demand ahead. Asian
traders have suggested resistance at and above $1.1700, with stronger resistance
noted into Monday's high of $1.1750. Flash PMI's due this morning from France,
Germany and the EZ.  
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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