Recovery off Tuesday's low of $1.1306...>

EURO-DOLLAR: Recovery off Tuesday's low of $1.1306 extended to an eventual high

Wednesday of $1.1387, the pair elevated to session highs after RTRS reported

that Italian PM's new budget proposal sees a deficit goal of 2.04%, but does not

"betray Italians". Participants continue to watch developments re: domestic

budget in Italy, as well as France, whose gov't will face a no confidence vote

later today in a measure which forces officials to detail their spending plans.

EUR/USD dipped back to $1.1359 during the NY afternoon before it settled between

$1.1360/80 through to the close. Rate continued to consolidate within those

parameters, Asia held between $1.1363-77 in a fairly subdued session, though was

favouring toward the topside ahead of Europe.

- Resistance $1.1380/87 ahead of $1.1400/02. Support $1.1360/50, $1.1337-25.  

- The ECB is set to announce its MonPol decision later today, expectation of

winding up net bond purchases

- Elsewhere, EZ & German Mfg flash PMIs are due Friday, as well as a slew of ECB

speakers.