Sharp recovery Tuesday off intraday.....>

EURO-DOLLAR: Sharp recovery Tuesday off intraday lows of $1.1653 prompted by

reaction to a wire source report suggesting the Jun14 ECB meeting will be 'live'

to debate an exit from QE. Talk emerging that if this proves to be the case

Draghi could signal at the press conference an announcement to be made at the

July meet. Rate spiked to a high of $1.1732, dipped back to $1.1709 before

closing the day at $1.1709. This late recovery continued into Asia as rate

extended move to an eventual high of $1.1735. Pullback ahead of Europe saw it

back at $1.1714 but underlying tone remained buoyant. Rate currently trades

around $1.1728 at writing. Risk appetite was given a boost in Asia by the

USD/CAD reaction to reported Mnuchin comments on US/Canada tariffs along with

AUD/USD lifted by Australian GDP. Initial resistance remains at the Asian high

of $1.1735 ahead of the Jun4 high of $1.1745. Asian traders suggested resistance

between $1.1745/55, adding that a move above this area could accelerate upside

momentum. Support $1.1713/09 ahead of $1.1695/85. Decent sized option expiries

for today's NY cut noted with strikes at $1.1750-60(E1.06bn), $1.1800(E1.79bn)

and $1.1825(E1.41bn). Speeches from ECB's Praet, Knot & Hakkarainen due.