Eur/Usd: Asia open $1.1802, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1802, range $1.1794-1.1828. Europe open

$1.1825, range $1.1817-68.

* Eur/Usd recovered off Tue lows of $1.1785 to $1.1837 before it settled on

$1.1800 ahead of the close.

* Rate slowly edged to an early Asian high of $1.1818, dipped to $1.1794 on

stronger UST yields.

* Rate met decent demand into the dip which bounced through the early high and

on to $1.1828 ahead of Europe.

* Move was aided by the break of Y130.60(Y130.67 200 week ma) which took the

cross to Y131.18. 

* Early Europe extended move to $1.1830, dipped back to $1.1817 before it

rallied up to $1.1844(Aug1 high).

* Dip to $1.1825 was again met by willing buyers that spiked rate up to $1.1868.

* Eur/Jpy extended recovery to Y131.40. With Usd/Jpy meeting resistance at

Y110.90/111.00 helped drive Eur/Usd higher.