Trade in Asia contained by..............>

EURO-DOLLAR: Trade in Asia contained by $1.1639-54, and as that range would

suggest it was a fairly subdued session. Early Europe managed to nudge the

topside to $1.1655 before it settled back to $1.1650. US tax reform showing

signs of progress but there remain significant hurdles, whether or not to delay

the proposed corporate tax cut into 2019 seen weighing generally on the Usd.

Technical resistance now seen into $1.1655/60, a break here to boost upside

potential. However, traders Thursday noted interest to fade any recovery into

$1.1680/85. 

* ECB Mersch speaks in London at 1230GMT. ECB Draghi to speak in Milan Saturday.

* Options; Expiries $1.1545-50(E1.25bn), $1.1600(E400mn), $1.1650(E465mn).

* US tax reform, Saudi concerns seen weighing on the Usd. Upcoming Italian

elections weigh back on Eur.