Eur/Usd: Europe open $1.1983, range....>

EURO SUMMARY: Eur/Usd: Europe open $1.1983, range $1.1965-95, NY open $1.1986,

range $1.1873-1.1990

*Gained a lift on release of US PPI data slight miss weighing on the

Usd and took rate from around $1.1976 to $1.1990, but just as quickly eased off

to $1.1980.

*A sharp drop in the pair following a sharp spike in US Tsys yields

and a quick drop in XAU saw the rate drop to fresh intra-day low of

$1.1948.

*Broad based dollar demand continued its theme, as the rate dropped to

fresh lows of $1.1904. The move coincided with US Tsys yields rising and XAU

dropping.

*Stops were triggered on the break of $1.1900, as broad based

dollar demand continued, as the pair printed a fresh intra-day low of $1.1884.

*Further dollar demand witnessed the rate print a fresh intra-day low of $1.1873

before bouncing towards $1.1890.