*Dec14 euro-dollar open $1.1826,.......>

EURO SUMMARY: *Dec14 euro-dollar open $1.1826, range $1.1822 to $1.1844

*Euro-dollar opened in Asia at the upper end of yesterday's $1.1730 to $1.1832

range, where softer than expected US inflation data and a perceived dovish Fed

hike, provoked widespread US dollar weakness.

*After dipping modestly to $1.1822, demand mostly from euro-yen propelled the

pair through yesterday's high to $1.1840 before stalling. 

*Dips were shallow and limited to $1.1829, further demand then saw a session

high print at $1.1844

*For the balance of the session the pair edged lower to $1.1831 and heading

toward the European open trades at $1.1833

*In option space, close-by expiries for today at $1.1800(E1.2bn),

$1.1815-20(E1.12bn) and $1.1860-65(E1.48bn), may act to see the near-term range

contained.

*ECB meeting and Draghi's press conference is the main focus for the session

ahead.