USD easing in early Europe was..........>

EURO-DOLLAR: USD easing in early Europe was sharply reversed with some pointing

to headlines that China will be pushing for the WTO to impose sanctions on the

US for violating a trade dispute ruling from 2017. Rate dropped with cable, the

latter having reacted positively to UK wage data before sharply reversing,

EUR/USD dropped back to $1.1576, from its high of $1.1644(having met stiff

resistance between $1.1640/50). USD recovery continued into NY, the pullback

extending to $1.1566 before it recovered to $1.1599 then settled around $1.1580

through the London fix. Risk remains a key driver of direction, via trade

disputes, with focus turning toward Thursday's ECB rate announcement. No change

widely expected with attention on ECB Draghi. Resistance remains into $1.1650, a

break to expose $1.1680/85. Support $1.1566 ahead of $1.1526.