Euro/Dollar: Europe open $1.1775,......>

EURO SUMMARY: Euro/Dollar: Europe open $1.1775, range $1.1750-79, NY open

$1.1761, range $1.1754-1.1835

*The release of weaker than expected CPI witnessed broad based dollar pressure,

with the rate spiking to a new intra-day high of $1.1835. The pair met

resistance and slipped towards $1.1800.

*In reaction to Russian Foreign Minster Lavrov remarks (Rtrs)

Russian and Chinese plan to defuse North Korean situation, saw broad based

dollar demand, with the rate falling to pullback lows of $1.1778.

*In reaction to the Phil Fed survey, where economist have

significantly marked down inflation forecast and a dovish tone from the Fed's

Kaplin, witnessed the rate jump back over $1.1800.

*The rate receives a lift, as US Tsys yields rise and gold bounces, witnessed

the rate grind towards $1.1820.

*A fresh wave of dollar selling, following US Tsys yields falling,

witnessed the rate spike to a new intra-day high of $1.1847. The rate met supply

from ECNS pushing the rate back towards $1.1830.