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Saw an extended low of $1.1242..........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Saw an extended low of $1.1242 Wednesday, the move holding just shy
of its $1.1241 technical support (76.4% $1.1177-1.1448), before it recovered to
a post 1600GMT fix high of $1.1268 then sank back to $1.1244 ahead of the close.
Rate recovered in early Asia to $1.1256, settled around $1.1250 before it dipped
to $1.1243. Demand into that $1.1241 level again cushioned the base and allowed
for a recovery, the rate edging to $1.1260 into Europe. USD has been seen under
mild downside pressure in late Asian trade, USD/JPY able to grind its way down
to Y110.04 despite reports of decent demand from around Y110.20. EUR/USD
resistance now seen into $1.1265/70 ahead of Wednesday's high of $1.1286 then
$1.1300. Germany state CPI's to be released through the morning, ahead of the
pan Germany release at 1300GMT. ECB de Guindos speaks in Frankfurt at 0910GMT.
EZ Confidence data to be released at 1000GMT. 
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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