Eur/Usd: Asia open $1.1658, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1658, range $1.1645-65. Europe open $1.1658,

range $1.1638-59.

* Eur/Usd fell back from Friday's high of $1.1678 post fix to $1.1651, recovered

to $1.1669 ahead of close. 

* Rate traded between $1.1655/65 early Asia then reacted to the sharp sell off

in cable as it dropped to $1.1645. 

* Rate stepped its way back to $1.1660 ahead of the European open. 

* Eur/Jpy sales emerged late Asia to press Eur/Usd back to its Asian base of

$1.1645, bounced to $1.1653 then quickly reversed. 

* Break of $1.1645 saw rate extend to $1.1638 before strong demand for Eur/Gbp

edged it back to $1.1653.

* Late morning and corrective pullback in Eur/Gbp saw Eur/Usd drift back to

$1.1640.

* Cross plays continue to keep Eur/Usd hemmed in. Support noted at $1.1623(Nov10

low), resistance $1.1690(Nov3 high)