Recovery off traded low of $1.1325......>

EURO-DOLLAR: Recovery off traded low of $1.1325 aided by cable's stronger

bounce, the rate able to edge on to a high of $1.1360 before momentum faded.

Rate was seen settling around $1.1350 during the NY afternoon. Growth concerns

continued to apply a negative weight on the EUR, following the miss in Germany

IP(after poor Germany Factory Orders Wednesday) while EU Moscovici highlighted

that the economic slowdown in Europe is to be more pronounced than expected,

with "considerable uncertainty" surrounding Italian fiscal policy. Friday brings

France and Italy IP which will should provide more interest than usual. Support

now seen at $1.1330/25 ahead of $1.1300 with focus on $1.1290/80. Resistance

$1.1360 ahead of $1.1380 and $1.1400/10. Option expiries for Friday's NY cut

seen at $1.1280(E805mln), $1.1380(E767mln) and $1.1750(E558mln).