Eur/usd - 1.2225 ... Despite euro's brief drop to 1.2193 in Asia, the single currency rebounded on short-covering as traders are focusing on the expiry of the ECB's one-year money market facility. A special six-day loan auction will also be held by the ECB later today and if the lending rates on euros jump, renewed worries of less credit supply may be seen once banks pay back their one-year loans to the ECB. Selling interest by European names is tipped at 1.2240, 1.2265/70 n further out at 1.2290/00 whilst bids by st spec. are noted at 1.2195/00 n 1.2155/60 with stops building up below 1.2150. Key eco. data due out are German retail sales n the important German PMI at 09:53GMT n EU OMI at 07:58GMT as economists will assess the euro zone gowth prospect fm these data.
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