Slippage off Tuesday's high of..........>

EURO-DOLLAR: Slippage off Tuesday's high of $1.1326 saw rate touch a low of

$1.1263 ahead of the close. Rate gained an early lift in Asia as traders reacted

to a published interview by the NYT with US Trump's Fed nominee Stephen Moore in

which he said that the Fed should cut rates by 50bps. He also said he would not

be a Trump sycophant if elected to the board. Rate popped up to $1.1277 but move

very quickly lost momentum before it sank, with the help of reported EUR/JPY

supply at the Tokyo fix, to an extended low of $1.1251. Profit take demand ahead

of $1.1250 provided a cushion, allowed rate to edge back to $1.1260 into Europe.

Support $1.1251-45, $1.1220, stronger into $1.1200. Resistance into $1.1280 then

$1.1300 and $1.1325-30. 

- Option expiries for today's NY cut include, $1.1260-65(E1.31bn),

$1.1275-80(E878mn), $1.1380-00(E1.73bn). 

- ECB speakers Wednesday include ECB President Mario Draghi speaking in

Frankfurt(0800GMT), along with ECB Chief Economist Praet(0845 GMT), ECB Vice

President de Guindos(1045GMT) and ECB Executive Board member Mersch(1330GMT).

ECB Nowotny speaks in Vienna at 0800GMT, ECB Lautenschlager at 1000GMT.