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Recovered off an early Europe low of....>

MNI (London)
EURO-DOLLAR: Recovered off an early Europe low of $1.1162 Monday to $1.1231 at
the 1600BST fix before it found a base at $1.1210 ahead of the close. Asia
favoured the USD, concerns noted with political risk in Argentina and ongoing
situation in HK. Rate was pressed back to $1.1182 before it met some support
which allowed it to edge back to $1.1195 into early Europe. 
- Focus today on the Italian date for the no-confidence vote(1600GMT),
suggestions favour Aug20(Citi). 
- Germany confirmed its flash CPI reading earlier. Spain CPI due at 0700GMT
ahead of Germany ZEW at 0900GMT. 
- US CPI key data release on the day at 1230GMT. 
- EUR/USD support $1.1180/78, $1.1162, $1.1150. Resistance $1.1200, $1.1210/20,
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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