*Aug18 Euro-dollar open $1.1723,.......>

EURO SUMMARY: *Aug18 Euro-dollar open $1.1723, range $1.1709 to $1.1736

*Euro opened in Asia toward the middle of yesterday's $1.1662 to $1.1790 range,

where after being marked lower following ECB's minutes, consolidation became the

theme.

*Euro-dollar dropped soon after the Tokyo open from $1.1731 to $1.1709, the move

was euro-yen led, a continuation of the risk-off theme.

*Regional equities opened lower, but never really carried on the move, specs

began to cover euro-yen shorts and together with Tokyo-fix demand euro-dollar

climbed from the mid $1.1710's to $1.1736.

*Once that interest evaporated consolidation became the theme, euro-dollar was

confined to a tight $1.1729-36 range heading into the European open

*German PPI provides the initial event risk for the session ahead, which also

includes University of Michigan consumer sentiment