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

EURO SUMMARY: Euro/dollar: Europe open $1.1779, range $1.1757-1.1801, NY open

$1.1763, range $1.1757-1.1785

*Continued its slow grind lower, following the break below its

earlier Asian low of $1.1769, with reported algo stops fired off on break of

$1.1767 with the rate dropping to fresh lows of $1.1757 just ahead of NY. As NY

entered the fray the rate bounced towards $1.1770.

*The release of weaker than expected US Jobless claims witnessed some pressure

on the dollar with the rate rising towards $1.1780.

*The dollar received a lift across the board as US Tsys yields gets a

lift and gold falters, the rate slipped back towards $1.1760.

*The dollar slipped in a very quiet session, as cable received a small lift on

the back of hawkish comments from Carney, with the rate grinding towards

$1.1780.

*As the US house passed the proposed tax bill a wave of

dollar demand across the board, with the rate dropping towards the intra-day low

of $1.1757.