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USD/JPY came under early pressure in....>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: USD/JPY came under early pressure in Asia on suggested Japanese
insurance companies need to repatriate funds to cover claims from the recent
typhoon and last night's earthquake. The USD sales provided EUR/USD with the
momentum to move through Wednesday's high of $1.1640, extending the recent
recovery rally, off Tuesday's low of $1.1530, to $1.1659. Dovish comments from
BOJ Kataoka allowed USD/JPY to recover which in turn saw EUR/USD drift lower
through the remainder of the overnight session, the rate easing to $1.1630 into
Europe with further sales pressing it on to $1.1621. Next support seen at
$1.1610/00. Germany Factory Orders data due for release at the top of the hour,
market median 1.8%mm following last month's -4.0%. US data into the afternoon
should provide better interest with release of US ADP, ahead of Friday's US NFP,
Weekly Jobless Claims, Non-Mfg ISM and Durable Goods. EM markets relatively
steady so far this morning but will watched for influence.  
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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