Recovery off early Europe low of........>

EURO-DOLLAR: Recovery off early Europe low of $1.1747 saw rate trade back at

$1.1767, currently around $1.1764. Market seems to be trying to weigh up the

Catalan situation versus speculation who will take key positions on the FOMC,

already viewed dovish as short list suggested to include Yellen, Cohn, Powell

and Warsh, with a possible 5th candidate in the form of John Taylor. Glen

Hubbard and Richard Davis are now said to be out of the running. Friday's NFP in

the background for the time being with hurricane effects seen widening forecasts

for the headline number, median 80k though some are changing calls for lower.

However, most suggest that headline jobs may be overlooked for more influential

wage data(AHE forecast 0.3%). Decent sized option expiries for Friday's NY cut

seen between $1.1700-50(E3.5bn).