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USD demand in NY pressed rate back......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: USD demand in NY pressed rate back below $1.1200, but only as far
as $1.1195, with the single currency able to off set the otherwise general USD
demand (US corporates for month-end value, COVID-19 spread in US pressing on
equities/risk) with demand seen via EUR/JPY and suggested month end demand for
EUR/GBP providing the buoyancy. Low was seen into the 1600BST fix before
recovery but rate again looks to be meeting resistance into $1.1240. Recent
reports have suggested buying dips into the $1.1180/60 area. 
- Support $1.1195/91, $1.1168(Jun19 low). Resistance $1.1240, $1.1260, $1.1280,
$1.1300. 
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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