Eur/Usd: Asia open $1.1779, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1779, range $1.1776-91. Europe open $1.1779,

range $1.1773-1.1809. 

* Eur/Usd recovered off Thursday low of $1.1721 to $1.1804, dipped to $1.1773

then settled around $1.1785 into close. 

* Rate drifted back to $1.1777 in early Asia, recovered to $1.1791 before

continuing downside drift. 

* Rate eased to $1.1776 then recovered to $1.1786 ahead of the European open. 

* Fresh sales emerged into Europe and rate was pressed to an extended low of

$1.1773(NY hourly low).

* General Eur demand via crosses provided for a stronger recovery, traded to

$1.1801 then eased to $1.1788. 

* Another strong demand wave took rate to an extended high of $1.1809 then

settled around $1.1800 into EZ CPI data. 

* Softer than forecast release saw rate taken down to $1.1789, recovery faltered

around $1.1795.

* According to bank models End Month flow expected to see mild Usd sales.