Recovery off its late Monday low of.....>

EURO-DOLLAR: Recovery off its late Monday low of $1.1055 extended through

Tuesday trade to a high of $1.1098 before settling around $1.1093 into the

close. Early Asia consolidated those gains within a tight $1.1090/96 range

before slightly extending the base to $1.1088 into Europe. US CPI(1330GMT) and

FOMC(1900GMT) the main focus of the day. No change in rates widely expected from

the Fed with Fed Powell's accompanying comments to be listened to closely. ECB

policy announcement Thursday, under new president Lagarde, also in view.

US-China trade remains a factor for risk, Peter Navarro (Director of Trade and

Manufacturing Policy) commented overnight that there are no indications that the

Dec15 tariff deadline will be rolled back. 

- Support $1.1085/80, $1.1055/50. Resistance remains into $1.1100, the level

also holding the strike of option expiries for today's NY cut for E1.27bln,

E1.11bln being EUR calls. Above the figure and expect further resistance between

$1.1110/20.