Touched an extended YTD low of..........>

EURO-DOLLAR: Touched an extended YTD low of $1.0892 in early NY trade Tuesday,

the release of an MNI sources story suggesting that chances are rising of an ECB

rate cut aided the move, before profit take USD sales allowed rate to recover to

$1.0925(testing broken falling support Jan10) before it drifted back to $1.0916

into the close. Rate consolidated in Asia between $1.0907/21(rate still

respecting that broken support line $1.0920), pressuring the base into Europe.

Traders aware that the area between $1.0910-1.0898 holds the strikes of expiring

EUR puts (total E1.68bln) which could provide some support ahead of the roll

off. A break to expose Tuesday's low of $1.0892 ahead of $1.0880/79(base of the

1.0% 10-dma/Oct01 low). Resistance now seen between $1.0920/25, a break to

expose $1.0940/50. 

- EZ IP at 1000GMT, market median -1.8%mm, -2.1%yy. ECB Lane(dovish) speaks

ahead at 0950GMT.

- Fed Powell before Senate Banking 1500GMT