Sharp reversal away from the day's......>

EURO-DOLLAR: Sharp reversal away from the day's high of $1.0896, as Fed Powell's

added his voice to recent Fed officials' comments showing aversion to negative

interest rates, saw EUR/USD pressed to a low of $1.0813 into the Europe close

before edging back around $1.0820 into the US afternoon. Powell comments were

seen pouring cold water on recent market exuberance, placing pressure on

equities as he stressed that considerable solvency risks remain in the coming

months. Appaloosa Management's David Tepper was also noted sounding a strong

note of pessimism on the state of the stock market. 

- Support $1.0813/11(intraday low and 76.4% $1.0785-1.0896), a break of $1.0800

to expose $1.0785 ahead of rising support at $1.0773(off Mar23 low) and $1.0767

May7 low. Resistance $1.0830 ahead of $1.0850. 

- Thursday's NY options cut sees E965mln of $1.0800 EUR puts rolling off along

with a total of E4.48bln of  EUR puts from $1.0750 to $1.0600.

- Thursday brings the ECB Economic Bulletin at 0800GMT. Initial Jobless Claims

from the US at 1230GMT.