Recovery off Tuesday's low of $1.1554...>

EURO-DOLLAR: Recovery off Tuesday's low of $1.1554 extended in early Asia to

$1.1606(NY high $1.1593) before momentum faded. Move higher in Asia cited on a

Washington Post report suggesting Senate GOP corporate tax cut could be delayed

until 2019 which weighed on the Usd across the board. Sellers were quick to take

advantage of the blip higher and quickly escorted the rate back below $1.1600,

aided by option related Eur/Jpy sales. Rate settled between $1.1592-1.1601

through to the European open whereupon another wave of selling emerged to press

rate to a fresh intraday low of $1.1585(Asia opening low $1.1587). Eur/Usd

retains an underlying heavy feel. Asian traders have reported sell interest

placed toward $1.1630. Main support remains on approach to $1.1550(Nov7 low

$1.1554). 

* OPTIONS: Expiries of note $1.1545-60(E1.33bn), $1.1600(E976mn),

$1.1640(E843mn)