Eur/Usd: Dec8 close $1.1764, Dec11.....>

EURO SUMMARY: Eur/Usd: Dec8 close $1.1764, Dec11 Asia range $1.1757-86, Europe

$1.1775-1.1801

*Euro opened in Asia at the upper end of Friday's $1.1730-77 range where despite

a choppy session post-US data, euro-dollar was largely unchanged on the day

*Eur-Jpy demand surfaced to see Eur/Usd climb from near $1.1760 to $1.1784.

Japanese lifers were the reported buyers, there was some chatter the same names

were buying sterling-yen at the same time

*Once that cross interest subsided, euro eased lower to $1.1776 and consolidated

for the balance of the session

*The quiet theme spilled over into Europe, early slippage to $1.1775 encountered

willing dip buyers to hold $1.1785/90

*Late euro demand briefly made a show above $1.1800, touched $1.1801 but soon

faded. Reminder of the very large E1.02bn $1.1800 option-expiry which could

anchor ahead of today's NY cut

*The main focus this weeks starts on Wednesday with the FOMC, followed on

Thursday by the BOE and ECB who will announce their latest policy decisions.