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Sank to a fresh YTD low of $1.1020......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Sank to a fresh YTD low of $1.1020 Friday with recovery efforts so
far faltering on approach to $1.1040. Trade through a holiday thinned Asian
session was confined to $1.1021-37 as risk remained under general pressure due
to developments in the China coronavirus outbreak(China has extended its LNY by
3 days to restrict travel), countered by the Italy PD win in Emilia-Romagna
which eases political risk. Germany Ifo data at 0900GMT expected to show
improvement which could provide some added buoyancy. Country flash CPI releases
in the EU, as well as EZ GDP released through Thursday/Friday. Month-end also
approaching Friday. 
- Support remains at $1.1020 ahead of $1.1000, a break to expose $1.0980.
Resistance $1.1040, $1.1060/70.  
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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