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Recovery effort extends to $1.1948......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery effort extends to $1.1948 with rate holding firm at
writing. Expect some resistance at $1.1950, with stronger interest seen up at
$1.1975/80. Rate saw $1.1980 on Friday in its initial react to NFP but was
rejected from this level. Mentioned earlier, reports suggest a European
sovereign has been a noted seller into recent Eur/Usd pop ups. ECB meeting
Thursday with market awaiting comment on any possible tapering discussion as
well as as mention of negative effects current level of Eur/Usd is having on
inflation. 
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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