Recovery off Friday's low of $1.1112....>

EURO-DOLLAR: Recovery off Friday's low of $1.1112 extended through Monday trade

to a high of $1.1158 before getting sold back to $1.21135 through the London fix

before it settled around $1.1145 into the close. Sterling was seen bruised by

earlier release of disappointing flash PMI data prompting a recovery in EUR/GBP

which provided some additional buoyancy for EUR/USD. Sterling came under further

pressure in opening Asian trade, press suggestions that PM Johnson could block a

Brexit transition phase extension beyond the end of 2020, spiked EUR/GBP back

toward its 10-dma at Gbp0.8417 which in turn pushed EUR/USD up to an initial

high of $1.1156 before it reversed tack and trailed cable lower. Rate touched a

low of $1.1134 before recovering through the balance of the session to $1.1149

before settling around $1.1145 again into Europe.

- ECB Rehn, Kazimir and Lane due to speak in an otherwise data light day for the

EZ. US Housing Starts (1330GMT) and US IP at 1415GMT provide early afternoon

interest with Fed Rosengren and Williams speaking at 1730GMT. 

- Support $1.1120, stronger into $1.1100. Resistance $1.1155/60, stronger into

$1.1200.