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Eur/Usd: Dec11 close $1.1764, Dec12....>

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Dec11 close $1.1764, Dec12 Asia range $1.1765-80, Europe
$1.1770-93
*Eur-Usd opened in Asia toward the lower side of yesterday's $1.1757-$1.1812
range where consolidation ahead of this week's Central Bank meetings was the
theme
*Range-trading continued during the session, with investors mostly side-lined.
Demand via the crosses did provide some risk, however Eur-Usd held close to
$1.1770 for the balance of the session
*As the quiet theme spilled over into Europe, minor dollar demand briefly
weighed to $1.1770
*Dip buyers emerged off the low, euro-based short covering squeezed to $1.1793
but with lack of follow through drifted
*Traders awaited the release of German ZEW data for direction, but were left
disappointed. Stronger Current Situations was countered by marginally weaker
Expectations, the euro barely moved and last trades $1.1780.

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