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Recovery off earlier low of $1.1543.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off earlier low of $1.1543 extends to $1.1600, the rate
meeting suggested option linked resistance at this level. EUR/USD currently
trades around $1.1593. The earlier reported trend line support, drawn off the
lows of Jan 2017 and today comes through at $1.1545, basically contained the
base in early Europe and was seen prompting short term specs to cover back
shorts. EZ CPI at the top of the hour, though this release normally just
confirms the earlier released flash data. Wage costs could provide some interest
but don't expect any major reaction. Above $1.1600 next resistance noted at
$1.1615/20. 
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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