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Yesterday's mentioned resistance........>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Yesterday's mentioned resistance above $1.1210 did indeed make
upside progress difficult, eventually the interest pressed rate down to a post
1600BST fix low of $1.1167. Rate managed to recover to $1.1194 ahead of
Tuesday's close. Asian traders yesterday had noted the mentioned supply which
may have been linked to position adjustments by certain Asian cenbanks after
suggestions that they had been active Tuesday to protect their respective
currencies. No such action seen Wednesday. Rate marked a low of $1.1189 into
Tokyo trade before rate extended its recovery to $1.1207 into Europe. Resistance
remains into $1.1220, a break and clear to expose $1.1250. Support $1.1160/50. 
- Germany IP due for release at 0600GMT(median -0.5%mm, last 0.7%) and provides
the early interest. 
- ECB Draghi due to speak at 1130GMT
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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