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USD strength continued to prevail.......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: USD strength continued to prevail Tuesday, pressed EUR/USD to an
extended low of $1.1202 during the NY afternoon before closing the day around
$1.1210. Asia consolidated this easing, trade during the session contained
within $1.1207/15, with early Europe only able to nudge the topside to $1.1217
in opening business. Support seen into $1.1200, a break to expose the Jul09 low
of $1.1193 ahead of $1.1180 ($1.1181/80/79 Jun18 low/May31 high/76.4%
1.1107-1.1412). Initial resistance seen into $1.1225, a break here to open a
push on toward stronger resistance between $1.1254/63(100-dma/High Jul 16).
- EZ final inflation read released at 0900GMT. Not usually a market mover unless
it varies from the flash release (rare). EU Construction production also at
0900GMT, again not normally a major market mover. US Housing Starts at 1230GMT,
Kansas Fed George speaks at 1630GMT, Fed Beige Book ahead of July meeting
released at 1800GMT. 
- Bank reports suggest outlook for EUR/USD to continue a slow grind lower. 
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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