Rate was slowly extending its...........>

EURO-DOLLAR: Rate was slowly extending its recovery off the late NY low of

$1.1551, touched $1.1576 before it spiked to $1.1650 as market reacted

positively to the EU Leaders Summit agreement on the current migration crisis.

This agreement will lift pressure off Germany Merkel. Rate eased off to $1.1625,

as short term specs covered longs ahead of Europe only for rate to take another

lurch higher to $1.1666 as fresh buyers emerged. Rate currently seen

consolidating around $1.1650. Risk appetite was given a general boost on the

migration agreement and seen keeping markets buoyed into early Europe. Release

of EZ Flash CPI at 0900GMT provides the main interest this morning, market

median 2.0%, core 1.0%. Resistance now seen at $1.1675/85 ahead of stronger

interest into $1.1700. Some talk in Asia that a move above $1.1725 could boost

this current recovery. Support $1.1625 ahead of $1.1600.

- Option expiries of note, $1.1500-03(E3.35bn), $1.1600(E1.97bln),

$1.1700(E1.26bn)