Euro/dollar: Europe open $1.1736,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1736, range $1.1723-1.1748, NY open

$1.1734, range $1.1725-1.1832

*Trades around $1.1727, off earlier low of $1.1723, as well as off

its EZ Flash CPI react high of $1.1744.

*The pair received a small lift in a very quiet session as the rate

grinded towards $1.1735.

*Broad based dollar pressure witnessed the rate continue to rise,

with the rate heading towards the intra-day high of $1.1762. 

*Broad based dollar selling at the month end re-balancing, has

seen the rate spike to a new multi-year high of $1.1798.

*Stops were triggered through the break of $1.1800. The

rate has spiked to a new 2 and half year high of $1.1832.

*The dollar continued to pare back its losses, following the spike

to a 2 and half year high of $1.1832, with the rate drifting towards $1.1800.

*Renewed dollar pressure into the close witnessed the rate grind to a new 2 1/2

year high of $1.1845, before model sellers emerged pushing the rate to $1.1835.