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USD again came under pressure through...>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: USD again came under pressure through the NY session Tuesday,
allowing EUR/USD to edge off its early posted NY low of $1.0830, as well as
extending the recovery off its Feb20 YTD low of $1.0778, to $1.0890, the move
driven by virus spread warnings in the US. Rate settled around $1.0880 into the
close. Virus spread reports affecting US equities, which in turn is driving
USD/JPY direction and providing the FX markets with a lead. Reports of an
increase in S.Korea virus spread were quickly overshadowed by reports that
spread in China had been confined to Hubei province. News was taken as risk
positive, lifted US equity futures, edged USD/JPY higher and allowed EUR/USD to 
ease to $1.0862 before settling between $1.0870-80 into Europe.
- Virus spread remains key for market direction, with its effect on risk
outlook.
- France Consumer Confidence provides domestic data interest, market median
103.0. US New Home Sales due at 1500GMT. 
- Support $1.0862(Expiries $1.0845-60 E2.71bln), $1.0830, $1.0800. Resistance
toward $1.0900(Expiries $1.0890-1.0900 $2.47bln)  
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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