Eur/Usd: Europe open $1.1761, range....>

EURO SUMMARY: Eur/Usd: Europe open $1.1761, range $1.1761-98, NY open $1.1795,

range $1.1788-1.1834

*Upside pressure remained in place as rate printed fresh session highs of

$1.1798 just ahead of the NY open.

*In a very dull session the dollar continued to trade heavy, with

the rate printing fresh session highs of $1.1799 before fading back towards

$1.1790.

*Following a spike in cable, eur/usd  followed suit breaking the

resistance at $1.1800 and printing fresh session highs of $1.1809.

*A wave of euro demand through the crosses, in particular eur/gbp

witnessed the rate jump to a fresh intra-day high of $1.1817 before fading.

*The dollar continued to feel pressure across the board, as

commodities rallied and US Tsys Yields slipped, the rate went onto print fresh

session highs of $1.1834 before drifting back towards $1.1800.

*The dollar continued to pare back its losses, as US Tsys Yields firmed with the

rate dropping towards $1.1775.