Wednesday's recovery off lows of........>

EURO-DOLLAR: Wednesday's recovery off lows of $1.2342 failed to extend back

abo0ve $1.2400, the rate marking a high of $1.2397 before it pulled back in

reaction to the mark down in headline EZ CPI from its initial flash forecast,

meeting support above $1.2370. Rate eventually settled around $1.2380 into the

close. A fairly quiet session in Asia saw rate consolidate between $1.2365-86.

Resistance remains into $1.2400, a break to expose recent high of $1.2414, with

further resistance noted close behind at $1.2422/23(Mar28 high/Trend resistance

off $1.2555 Feb16). Support $1.2365, $1.2342/36. US/EU yield differential widens

and seen making it more expensive to be long Eur but so far not placing any

major downside pressure on Eur/Usd.