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Reports made late on Sunday suggested...>

EURO-DOLLAR
EURO-DOLLAR: Reports made late on Sunday suggested that German CSU party leader
Seehofer resigned as the German interior minister re: disputes with Merkel's
governing CDU over migrants. More recent comments from Seehofer point to him
remaining in politics if the CDU backs down on migration matters.
- EUR was volatile in early dealing, and was eventually aided by comments from
German Chancellor Merkel who stressed that she will pursue migrant pacts with
Germany's EU partners, after her CDU party gave her firm support on the matter,
before broader USD strength weighed on EUR/USD.
- EUR/USD last $1.1650. Support is noted at $1.1613 (Hourly low Jun29) then
$1.1610/90 (50%-61.8% of the $1.1527-1.1693 move), while resistance is touted
around $1.1700.
- Regional manufacturing PMI data & comments from ECB's Praet provide the points
of interest for EUR traders today.
- Nearby notable option expiry interest at today's 10AM NY cut comes in the form
of: $1.1575 (EUR1.05bn)
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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