Euro/dollar: Europe open $1.1846,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1846, range $1.1831-57, NY open

$1.1837, range $1.1835-1.1893

*The pair received a lift following US Tsys yields falling, with the rate

jumping towards the intra-day high of $1.1859 in early NY.

*The rate got a further boost following large eur/gbp demand in reaction to the

BOE, with the rate grinding to a new intra-day high of $1.1870.

*Despite the release of better than expected US jobless claims

(240,000 act-243,000 est), there was a further wave of dollar selling. As the

rate jumped to a new intra-day high of $1.1874, before slipping back towards

$1.1850.

*Another wave of dollar selling from tier 1 institutions, following

the release of soft US ISM Non-Mfg saw the rate spike towards the intra-day

high.

*The dollar remained under pressure, following US Tsys yields and the

release of weak US data, witnessed the rate print a new intra-day high of

$1.1893, before slipping away from the highs into the NY close.