Recovery off Thursday's low of..........>

EURO-DOLLAR: Recovery off Thursday's low of $1.2165 extended to $1.2265 in NY

before momentum faltered. Rate found a base at $1.2220 with recovery efforts

ahead of the close capped below $1.2250. Usd was seen under pressure in early

Asia which allowed Eur/Usd to edge up to $1.2254. House passing of the stop-gap

funding bill saw rate dip back to $1.2232 but Senate threats to block had Usd

under pressure again. Rate rallied up to $1.2270, the break below Cnh6.40

provided the main catalyst for Usd sales. Senate vote has been delayed until

Friday 1100EST. Rate remained buoyed above $1.2250 through the balance of the

session, opening Europe around $1.2260. 

* Support $1.2250, $1.2232, $1.2220. Resistance $1.2270, $1.2288, $1.2323.

* Any move above $1.2300 expected to prompt ECB comment, possible source

leakage.  

* Option expiries of note, $1.2100(E1.53bn), $1.2139-41(E863mn),

$1.2200(E1.6bn), $1.2240-50(E570mn)