Euro/dollar: Europe open $1.1802,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1802, range $1.1768-1.1836, NY open

$1.1824, range $1.1822-1.1858

*Broke above the earlier high of $1.1822 with rate extending

recovery off morning lows of $1.1768, to $1.1840 in early NY.

*The dollar received a small lift following the release of better than

expected US Jobless Claims, the pair slipped from its fresh intraday high of

$1.1842 towards $1.1830.

*The dollar came under fresh pressure, as US Tsys yields dropped to

session lows, eur/usd  followed suit printing a fresh intraday high of

$1.1850, where the pair met reported supply and slipped back towards $1.1840.

*A further wave of dollar sales has witnessed the rate break the

resistance at $1.1850, stops were triggered pushing the rate onto fresh session

highs of $1.1858 before momentum faded and profit takers emerged, with the rate

slipping back towards $1.1830.