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Recovery off Friday's month-end low.....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Friday's month-end low of $1.1585 slowly clawed its
way to $1.1628 in a US/Canada thinned session Monday before rate settled around
$1.1618 into the close. USD picked up mild demand in Asia which allowed rate to
ease off to $1.1596 but had recovered to $1.1610 into the European open. Markets
expected to remain fairly subdued ahead of the US markets return. Asian traders
continued to report option linked resistance into and above the $1.1630 level.
Support $1.1596/95 ahead of stronger area between recent lows of $1.1588/85. EZ
PPI due at 0900GMT(market median 0.4mm/3.6yy) provides morning data interest, US
ISM Mfg data at 1400GMT provides focus into the afternoon. 
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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