Eur/Usd: Asia open $1.1771, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1771, range $1.1766-1.1802. Europe open

$1.1795, range $1.1778-1.1814. 

* Eur/Usd touched a low of $1.1728 Friday on reaction to strong NFP and Cohn

comments on tax(Usd repat).

* Rate recovered to $1.1783 ahead of the close, remained below its 200 week ma

at $1.1789 (this week $1.1780). 

* Rate touched a low of $1.1766 in early Asia before macro demand emerged, added

to reported dip demand seen Friday.

* Rate extended correction to $1.1802, then eased to $1.1795 into Europe. 

* Corrective pullback extended in the new session, release of poor Germany IP

data helped ease it to $1.1778.

* Buyers emerged into the dip again, which along with strong demand in Eur/Chf

spiked rate up to $1.1814.

* Rate settled back onto its earlier Asian high of $1.1802 then eased on to

$1.1795.    

* $1.1800 expiry (E896mn) helped keep rate anchored in subdued trade conditions.