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Recovery rally extended to $1.1922......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Recovery rally extended to $1.1922 before momentum faded, though
rate remains buoyed above $1.1900. Resistance now seen at that $1.1922 level,
stronger behind at $1.1930/40. Support $1.1874(Asia low) ahead of Friday's low
of $1.1850. Focus on Thursday's ECB meeting with most pushing back expectations
that the Sep meeting will announce directives for QE into 2018, turning focus
more to the Oct meeting. US Labor Day holiday expected to make for subdued
Europe afternoon markets, though market on alert for headline risk.  
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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