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Recovery off Tuesday's corrective.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery off Tuesday's corrective pullback to $1.1241 extended to
$1.1364 into the 1600BST fix before rate trailed off to $1.1331 ahead of the
close. Rate consolidated during the main part of Asian trade Wednesday, holding
within a $1.1332/46 range with attention on tonight's FOMC monetary policy
announcement. No change in rates widely expected with main focus on Fed Powell's
following press conference, markets watching carefully for any mention of yield
curve control or forward guidance. However, fresh demand emerged into the
European open which has provided the impetus for the rate to rest Tuesday's high
of $1.1364, currently holding firm at writing. A break above to expose Friday's
high of $1.1384. Above here and $1.1400 beckons ahead of $1.1460 and $1.1495.
Support $1.1330/20, $1.1300.
- France production data at 0745BST provides early Europe interest ahead of US
CPI at 1330BST but FOMC overshadows.    
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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