Eur/Usd: Europe open $1.1851, range....>

EURO SUMMARY: Eur/Usd: Europe open $1.1851, range $1.1831-83, NY open $1.1843,

range $1.1818-1.1865

*Corrective pullback away from the earlier high of $1.1883 extended

through the Asian base of $1.1839 to $1.1831 just ahead of NY.

*Slipped to fresh session lows of $1.1824, as the Usd picked up demand in

reaction to Fed Yellen comment, 'gradual rate rises appropriate path'.

*A fresh wave of dollar demand, as US Tsys yields continued to rally

and XAU dropped. The initial move was triggered by hawkish comments by Yellen.

The pair went onto print session lows of $1.1818 before bouncing back towards

$1.1830.

*The dollar continued to give back some of it gains, as US Tsys

yields slipped and cable continued to rise. The rate grinded to recovery highs

of $1.1863 before fading back towards $1.1850.

*Renewed dollar pressure as the Dow dropped and US Tsys yields slid,

the rate grinded back to $1.1865, before fading towards $1.1850 into the NY

close.