USD demand through Wednesday's NY.......>

EURO-DOLLAR: USD demand through Wednesday's NY session saw rate pressed to a low

of $1.2300 off an opening session high of $1.2409 (Mar28 high $1.2422). Rate

recovered to $1.2313 in slow, early Asian trading before it dipped back to

$1.2302 then picked up fresh demand which lifted rate to $1.2331 into Europe.

Further demand into this new session edged rate on to $1.2335(hourly low Mar28)

with rate holding firm at writing. Asian traders earlier mentioned sell interest

in place at and above the $1.2335 level, which so far seen proving to be true.

Month-end, with most centres closed for Good Friday tomorrow, with bank models

continuing to expect strong USD demand to be seen at today's fixes, main focus

on the 1600BST/1500GMT London fix. Data focus seen on release of Germany state

CPI's ahead of the pan-German release into early afternoon (market median for

pan-Germany CPI 0.5%mm/1.7%yy; HICP 0.5%mm/1.6%yy). Germany employment report at

0755GMT.