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

EURO-DOLLAR: Recovered off an early NY low of $1.1316 Friday, pushed up to

$1.1356 before it settled back above $1.1330 into the close. Fedspeak Friday was

seen as the main directional driver though rate remained within recent ranges.

Fairly muted action in Asia with swings in risk outlook providing the main

directional impetus, though within a tight range of $1.1329/49. Rate touched a

low of $1.1329 into opening Tokyo before rate lifted on positive tones from the

US concerning Sino-US trade talks, US Trump said Mar1 deadline for China tariffs

would be extended, which allowed rate to edge to the high of $1.1349. Rate then

eased to $1.1337 as traders reacted Xinhua headline that trade talks will get

harder in the final stages and may have some uncertainty. Rate settled around

$1.1340 through to the European open before picking up fresh demand interest.

- Friday - Fitch affirmed Italy's sovereign credit at BBB; outlook negative

- EZ highlights this week include French, German & Italian CPIs, as well as

French GDP due Thursday, while Friday will see the release of final PMI data

from across the EZ. Elsewhere, ECB's Lane will speak on Tuesday.

- Month-end approaches Thursday Feb28. Early models suggest mild USD sales.