Touched a high in early Europe..........>

EURO-DOLLAR: Touched a high in early Europe Wednesday of $1.1187 before it

turned lower, the move falling just short of its Wednesday $1.1095 low, as it

extended the corrective pullback from Wednesday's high of $1.1212 to $1.1196.

Rate recovered to $1.1145 into the 1600GMT fix, closing the day at $1.1135.

Markets steadied as Tuesday's Fed cut was seen showing that authorities were

taking a firm line as regards countering COVID-19 effects. Wall St was bounced

back by 4.22%, Biden taking the lead in the Democrat race through Super Tuesday

over Sanders and a stronger than forecast US non-mfg ISM aided. EU also warned

that virus effects could lead to Italy and France falling into recession.

Markets steadied in Asia though early tentative moves into risk were knocked as

California announced a state of emergency to counter virus spread. Trade in Asia

saw rate post an early high of $1.1144, easing through to Europe to $1.1131.

- Germany Construction PMI at 0830GMT provides domestic interest. US Weekly

Claims(1330GMT), Factory Orders and Durable Goods 1500GMT. Fed

Kaplan(neutral)speaks at 2330GMT. Support $1.1100-1.1095, $1.1055/50. Resistance

$1.1145/50, $1.1187.