EUR/USD: European open $1.1950,........>

EURO SUMMARY: EUR/USD: European open $1.1950, range $1.1947-$1.1988, NY open

$1.1987, range $1.1984-1.2026 

*The soft dollar theme continued into the NY open with the rate printing fresh

highs of $1.1994. 

*Broad based euro demand combined with gold spiking higher witnessed another

round of demand, with the rate printing fresh session highs of $1.1999, before

losing momentum and dropping back towards $1.1985.

*Another run on the dollar as gold remained in demand and US Tsys Yields fell

further, the rate grinded back to re-test the session high of $1.1999. 

*As the month/quarter/year end re-balancing began we witnessed pressure on the

dollar, the rate went onto break the resistance at $1.2000 and triggered stops,

pushing the rate to session highs of $1.2014. 

*A fresh wave euro demand across the board, in particular eur/yen saw eur/usd

follow suit, grinding to fresh 3 month highs of $1.2026, before fading into the

early close.