Eur/Usd: Europe open $1.1736, range....>

EURO SUMMARY: Eur/Usd: Europe open $1.1736, range $1.1720-41, NY open $1.1745,

range $1.1725-1.1756

*Eur/Usd was pressed back to $1.1720 where it again met decent demand before it

edged to $1.1740.

*Recovery in Europe manages to claw its way to $1.1746, still shy of

its earlier Asian high of $1.1748. The pair hovered close to the high in early

NY in a very subdued session.

*Broad based euro pressure through the crosses, in a very lackluster

session has seen the rate slip, as eur/usd fall towards $1.1725.

*The dollar has slowly pared back some of its losses in a very

lackluster session following XAU moving higher, with the rate grinding towards

$1.1745.

*Following a somewhat hawkish tone from the ECB'S Lautenschlaeger comment" ECB

should scale back asset purchases next year" the rate grinded to a fresh

intraday high of $1.1756 before fading back towards $1.1745.