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The old adage of buy the currency of....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: The old adage of buy the currency of the country on holiday
appeared to work for most of the day as EUR/USD extended Thursday's pullback,
away from its NFP initial react high of $1.1303, through yesterday's low of
$1.1223 before meeting support around $1.1220 (low $1.1219). Rate has recovered
to $1.1244, tracking US equity futures, with some suggestion the lift is linked
to the 1600BST fix. Expect some resistance into $1.1250(Asia high $1.1249) ahead
of $1.1280/85. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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