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Slightly better bid as cross flows......>

EURO-DOLLAR
EURO-DOLLAR: Slightly better bid as cross flows dominate. Euro has risen
modestly from near $1.1760 to $1.1778 the move underpinned by euro-yen demand,
where Japanese life companies have reportedly been the active buyers. Supply is
said to have been parked around $1.1800, it also hold a fairly large option
expiry rolling off today for E1.02 bn. Technical resistance is noted at $1.1811
(38.2% fib $1.1940 to $1.1730 decline). Euro-dollar was last at $1.1777.

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