Risk aversion cited as EUR/USD..........>

EURO-DOLLAR: Risk aversion cited as EUR/USD reversed off Thursday's high of

$1.1527, traders highlighting concerns over US-China and US-Saudi relationships

as well as the Italian Budget, currently under scrutiny by the EU. Rate touched

an initial low of $1.1480, popped up to $1.1518 at the London fix before it

continued to press lower, touching $1.1449 ahead of the close. EUR/USD slowly

edged higher through Asian trade, the move aided by China regulators as they

acted to soothe current risk outlook, the rate able to nudge to $1.1466 into

early Europe. Minor resistance noted at $1.1471 ahead of $1.1480. A break here

to expose $1.1518/20. Support remains around $1.1450 ahead of $1.1432. EU

Current Account provides early domestic focus in an otherwise light calendar.

Traders to focus on further Italy Budget headlines, as well as US-Saudi

concerns, will be watched. US mid-term elections approaching so could see Trump

rhetoric increase, note warning to move troops to the Mexican border to enforce

Mexico to halt the migrant train.