Euro/dollar: Europe open $1.1940,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1940, range $1.1915-61, NY open

$1.1960, range $1.1922-1.1969

*Broke above its early Europe high of $1.1956 to extend recovery

off earlier low of $1.1915 to $1.1969 in early NY.

*Broad based dollar demand in early NY, following XAU and oil

falling and rising US Tsys yields witnessed the rate fall from its fresh high of

$1.1969 towards $1.1940.

*A fresh wave of euro demand via the crosses, saw eur/usd follow suit with the

rate grinding back towards the intra-day high of $1.1969.

*The dollar pared back its recent losses, as commodities fell

further and US Tsys yields rose the rate dropped towards $1.1950.

*A fresh wave of pressure on the euro via the crosses, saw the rate follow suit,

as the rate drops towards $1.1920.

*The greenback pared back some of its gains, as dip buyers emerged

in the form of model names pushing the rate towards $1.1960.