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EURO-DOLLAR: The pair's now retraced close to half the China-induced spike seen
earlier this morning as the USD regains some lustre following the Wall Street
open. The pair has failed to cement the move above $1.20 and traders will be
looking to see whether it holds above or below yesterday's highs of $1.1976. ECB
minutes are due tomorrow at 1230GMT which may provide some direction ahead of US
CPI and retail sales figures on Friday.