Euro/dollar: Europe open $1.1603,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1603, range $1.1590-1.1644, NY open

$1.1639, range $1.1600-1.1655

*Eur picked up demand interest in late European morning, as rate moved above its

earlier high off $1.1616 and extended recovery to $1.1644 just ahead of NY.

*Broad based dollar demand as US Tsys yields sharply spiked, market

seemed a little bemused over the move. The rate dropped to pullback lows of

$1.1600.

*The dollar pared back some of its gains, as US Tsys yields and

the Dow dropped, the rate followed suit grinding towards $1.1625.

*Broad based dollar pressure in reaction to tax uncertainty's, geo-political

worries over Saudi Arabia and hawkish comments by the SNB Jordan saw the pair

jump to fresh session highs of $1.1655.

*The dollar started to pare back some of its losses, as

stocks received a small lift of their lows. The pair dropped back towards

$1.1640.