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Recovery off Tuesday's low of $1.1635...>

MNI (London)
EURO-DOLLAR: Recovery off Tuesday's low of $1.1635 extended to $1.1664 in Asia
before momentum faded. Rate eased back to $1.1652 into the Europe open where it
came under further sell pressure which has punched it down to $1.1640. Rate
currently trades around $1.1650. Migrant political problems remain in focus in
Germany. Traders remain on CNY/CNH watch following surprise lower fix in the
former, though both USD/CNY and USD/CNH seen recovering into Europe. Resistance
remains into the earlier Asian high of $1.1664 ahead of the area of hourly
recovery highs, seen Tuesday, between $1.1675/85. Support $1.1640/35. EZ M3
Money Supply due at 0800GMT. Watch for headlines concerning Germany Merkel
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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