Euro/dollar: Europe open $1.1974,......>

EURO SUMMARY: Euro/dollar: Europe open $1.1974, range $1.1972-1.2070, NY open

$1.2035, range $1.1973-1.2059

*Pullback contained at $1.2018 before fresh demand emerged that took rate

through next barrier at $1.2050 and on to $1.2070.

*The pair slipped to pullback lows of $1.2032 ahead of the NY open. NY arrived

putting pressure on the dollar as the rate grinded towards $1.2050.

*The dollar received a lift following US Tsys yields and profit takers

emerging saw the rate drop to pullback lows of $1.2010.

*A fresh wave of euro demand through the crosses (yen,chf,aud and

gbp) witnessed the rate follow suit, as the pair rose towards $1.2040.

*The dollar received a lift, following XAU slipping from its highs and

US Tsys yields paring back some of its losses, saw the rate drop

to pullback lows of $1.2002.

*Broad based dollar demand as the DXY index turned positive, witnessed the rate

crash to pullback lows of $1.1973. Dip buyers emerged pushing the rate towards

$1.1985.