EUR/USD: European open $1.1878,........>

EURO SUMMARY: EUR/USD: European open $1.1878, range $1.1865 - $1.1895, NY open

$1.1892, range $1.1886-1.1910

*Throughout the European morning, EUR/USD was broadly directionless with the

rate unable to maintain momentum in either direction until modest dollar

weakness allowed EUR/USD to grind higher to $1.1895.

*Early NY witnessed further dollar weakness, as commodities continued to firm,

the rate printed fresh session highs of $1.1900 before fading.

*Broad based euro demand through the crosses has seen the rate break

the resistance at $1.1900 and printing a fresh session high of $1.1905.

*The rate received a lift via the crosses in particular eur/yen, as the rate

grindd to fresh session highs of $1.1910 before fading.

*Broad based dollar demand at the London 4PM WMR has seen the rate

drop from its session highs towards $1.1885.

*The dollar lost some ground in late NY as US Tsys Yields slipped further, the

rate grinded back over $1.1900.