Touched an early high in Asia of........>

EURO-DOLLAR: Touched an early high in Asia of $1.1612 before it was pressed to

session lows of $1.1576 on the back of risk-off driven EUR/JPY sales. Rate

recovered through the balance of the session to $1.1598 in early Europe,

currently around $1.1595. Fairly subdued Asian session due to several centres

being closed (China, HK, Taiwan and Indonesia), with markets still waiting for

US/China trade developments after imposition of tariffs by the Trump govt.

Central bank influence in focus again this week, following last weeks FOMC and

ECB. ECB Draghi will give an opening address at the 3-day forum in Sintra,

Portugal. Fed Chair Powell and BOJ Kuroda also due to speak at this event.

Comments at Sintra have a history of market moving. Asian traders suggest rate

currently within a tight $1.1575-1.1625 range.