Recovery away from Wednesday's low of...>

EURO-DOLLAR: Recovery away from Wednesday's low of $1.1200 touched a high of

$1.1244 in European morning trade before it was knocked back to $1.1205, as

markets reacted to a Bloomberg source report suggesting the ECB is potentially

revamping its symmetric inflation target goal, ahead of the NY open. Recovery

efforts were capped at $1.1230 before comments from Fed Williams hit the wires.

Market watched for dovish tone and pounced on comment 'when rates are near the

zero bound, central banks should act decisively. Don't keep your powder dry'.

Rate spiked to $1.1281. Early Asia touched $1.1282 before Fed NY issued a

statement that earlier Williams' comments was not intended to suggest Fed might

make a large interest rate cut this month. EUR/USD dropped to $1.1241, recovery

on Fed Clarida comments was capped at $1.1268 before it drifted back to $1.1255

into Europe.

- Support $1.1240/30 ahead of stronger interest into $1.1200. Resistance $1.1268

ahead of $1.1282.

- EZ May current account 0800GMT. US UofM 1400GMT. Fed Bullard(dove) and Fed

Rosengren(hawk-ish) comment ahead of blackout.