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Touched a high of $1.1456 ahead of......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Touched a high of $1.1456 ahead of the NY open Friday before it
began to correct back ahead of US NFP. Rate met support which kept it buoyed
above $1.1400 ahead of data, release showing a stronger NFP than forecast acted
to drop rate on to $1.1372 ahead of the London fix. Post fix rate edged back to
$1.1400, closing the week at $1.1388. Pre Tokyo demand in Asia edged rate to
$1.1408 before it eased back below the figure as Tokyo began trading. Rate
touched $1.1387, recovery this time met resistance at $1.1400 before rate
drifted off to $1.1383. Demand re emerged ahead of Europe which has taken it
back to $1.1397. Resistance $1.1400, a clear above to open a move toward
$1.1425/35 ahead of Friday's high of $1.1456. Support $1.1380/70. Light data
calendar in the EU Monday(Sentix Investor Confidence 0930GMT) with attention set
on Tuesday's US mid-term elections, then FOMC decision Thursday(no change
expected, focus on a potential Dec hike). ECB Guindos speaks at 1030GMT and
1245GMT.
- Option expiries for today's NY cut seen at $1.1300(E1.67bn, $1.1350(E1.06bn),
$1.1400-05(E1.58bn), $1.1500(E1.04bn).     
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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