• Likely the Fed chief adopts a neutral line at today's Wall St call in

• UST 10-yr yield back below 1.5% and even at last wk's peak was still low

• However, yield differentials likely to widen on Fed-ECB rhetoric divergence

• EUR/USD struggling to make bearish headway today but risk of bear resumption

• Thrs option expiries could add to support-resistance due to related hedging

• Key EUR/USD levels 1.1992 Tues low and 1.2113 Wed high: cloud twist warning

• Bear bias holding but note the 1.2093-1.2111 Mar 11 twist risk: EBS pricing

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