Eur/usd - 1.2833 .. Despite staging initial recovery fm 1.2789 (AUS), renewed selling at 1.2857 has capped the single currency's upside as worries over Spain n Portugal becoming the next Greece gave euro bears (now including some sovereign names) another excuse to sell euro, however, some bids fm 1.2820-00 have contained intra-day weakness. ECB will announce rate decision at 11:45GMT n the central bank is widely expected to keep rates unchanged at 1.0%. However, market wud pay extra attention to the press conference at 12:30GMT to Trichet's comment on rumours of government bonds buying from secondary markets. In addition, market will keep a look out on results of the 3 bln euro of sovereign debt issue by Spain after last week's downgrade by S&P. Offers are now reported at 1.2855/80 region n further out abv 1.2900.