Strong selling emerged Thursday to......>

EURO-DOLLAR: Strong selling emerged Thursday to counter the initial ECB Draghi

react rally, the rate having been taken to a high of $1.2210 high before it was

pressed to a low of $1.2196. Recovery efforts in Asia were seen lack lustre as

rate only managed to claw its way back to $1.2117. Rate had settled between

$1.2105/10 into Europe. Support remains into $1.2090, a break to open a deeper

move toward $1.2067(76.4% $1.1916-1.2555 2018 range) ahead of $1.2050. The

$1.2100 level holds the stand out expiry for today's NY cut, E2.82bn, which may

help to keep rate anchored. Resistance $1.2130/35 ahead of $1.2155/65. EZ

Economic Confidence data due at 0900GMT but main focus on US first estimate Q1

GDP data, market median 2.0%. UST yields remain key FX driver.