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Eur/Usd: Europe open $1.1780, range....>

EURO SUMMARY
EURO SUMMARY: Eur/Usd: Europe open $1.1780, range $1.1775-$1.1803, NY open
$1.1791, range $1.1777-$1.1812
* 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. 
* Reports of an explosion in NYC brought some risk off sentiment to the market
briefly, however, this soon dissipated.
* The very large E1.02bn $1.1800 option-expiry anchored rate around the $1.1800
level until today's NY cut.
* After the NY cut, rate lifted to intra-day highs of $1.1812 and the euro
strengthened against the greenback, yen and sterling.
* Persistent demand interest moved Eur/Gbp through the 200-dma with gains
extending to Gbp0.8813. The pair continued to move higher throughout the day
printing intra-day highs of Gbp0.8844.

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