Eur/Usd: Dec14 close $1.1784, Dec15....>

EURO SUMMARY: Eur/Usd: Dec14 close $1.1784, Dec15 Asia range $1.1765-91, Europe

$1.1780-99

*Eur/Usd eased lower in Asia from $1.1778 to $1.1765 before meeting demand. The

move was predominantly Eur/Jpy led, with supply reported from quant accounts

*Eur-Jpy demand into the Tokyo-fix pushed the rate up from near $1.1777 to

$1.1790, but later eased to $1.1779 post-fix

*Further demand in euro-yen, on reports that a BoJ dissenter had called for more

easing measures, then pushed the pair to a new session high of $1.1791 before it

drifted back to the mid-$1.1780's

*The quiet theme spilled over into Europe, topside gains were capped ahead of

$1.1800 which holds very large E2.86bn optional-expiry interest for today's NY

cut

*With lack of European data to drive, the euro was largely consolidated to a

narrow 20 pip range

*On the US calendar today Empire Mfg and Industrial Production data are

scheduled for release at 1330GMT/1415GMT respectively. Eur/Usd last $1.1795.