Euro/dollar: Europe open $1.1779,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1779, range $1.1731-84, NY open

$1.1747, range $1.1717-1.1776

*The dollar pared back some of its gains, as the market awaited

the release of Durable goods and President Trumps tax plan, with the rate

grinding towards $1.1750.

*Despite the release of better than expected Durable Goods Orders

(+1.7% act-+0.8% exp) saw very little market reaction as the rate drifted

towards the session low of $1.1731.

*The dollar received a further lift following US Tsys yields jumping and XAU

falling further, as the rate printed a fresh intra-day low of $1.1717.

*A wave of euro demand following comments from German FDP official

Kubicki " move to shift Scaeuble to parliament shows Merkel's openness to 3 way

coalition" witnessed the rate spike to $1.1750.

*Broad based dollar pressure, following a sharp spike in XAU and oil

combined with rising US Tsys yields witnessed the rate jump to recovery highs of

$1.1777, before slipping back towards $1.1745 into the NY close.