Euro/dollar: Europe open $1.1815,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1815, range $1.1791-1.1826, NY open

$1.1807, range $1.1763-1.1819

*Heavy selling dropped rate to $1.1791 in early Europe, before rate settled

around $1.1800.

*The dollar came under a little pressure in early NY, with the rate grinding

towards $1.1820.

*Broad based dollar demand following US Tsys yields rising and

investors pulling out of XAU, as NY reacts to the US senate voting to adopt 2018

budget resolution last night, witnessed the rate drop towards $1.1800.

*Broad based dollar demand, combined with the release of slightly

better than expected US Existing-Home Sales, saw the rate drop to fresh session

lows of $1.1781. Dip buyers emerged pushing the rate back towards $1.1800.

*Following stops being triggered through the break of $1.1780, the

rate went on to print fresh intraday lows of $1.1763. Dip buyers emerged in the

from of ECNS pushing the rate towards $1.1785.