Euro/dollar: Europe open $1.1920,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1920, range $1.1920-42, NY open

$1.1936, range $1.1922-1.1984

*Recovery off European low of $1.1920 extended to $1.1940, just ahead of the NY

open

*The pair slipped in early NY, as profit takers emerged pushing the rate towards

$1.1920.

*A wave of euro demand through the crosses witnessed the rate grind

towards $1.1940

*Broad based euro demand, through the crosses (chf,aud,yen and gbp)

witnessed the pair follow suit, as the rate grinded towards $1.1955.

*As gold continued to aggressively rise, we witnessed broad

based dollar pressure, as the rate jumped to a new intra-day high of $1.1966.

*Pressure on the greenback continued, as gold continued its buoyant

tone, the rate jumped to new 3 year high of $1.1984.

*The pullback was minimal into the NY close as the rate stayed close to the 3

year high of $1.1984.