Eur/Usd: Asia open $1.1830, range......>

EURO SUMMARY: Eur/Usd: Asia open $1.1830, range $1.1825-51. Europe open $1.1845,

range $1.1815-52.

* Eur/Usd retreated away from Thursday's early Europe high of $1.1880 to $1.1827

in NY, recovery effort capped at $1.1850.

* Rate closed around $1.1830, initially edged to $1.1838 before it probed for

downside stops as it traded to $1.1825. 

* Rate recovered to $1.1851 through the session, aided by a Reuters ECB source

story on tapering.

* Not new news but story suggested that ECB honing in on a 9-mth(not open ended)

tapering term boosted the Eur. 

* Rate eased to $1.1844 ahead of Europe before fresh demand lifted rate up to

$1.1852 into the new session. 

* Rate reversed as the Eur came under general sell pressure/bunds moved sharply

higher, traded to a low of $1.1815. 

* Rate recovered to $1.1836 on position adjustment ahead of key US CPI data at

1230GMT.