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

EURO SUMMARY: Euro/dollar: Europe open $1.1974, range $1.1939-75, NY open

$1.1949, range $1.1885-1.1950

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

the rate print a new intra-day low of $1.1924.

*The dollar received a further lift, following the release of

stronger than expected US ADP July payroll and better revisions, witnessed the

rate drop to new intra-day low of $1.1915.

*The release of strong US GDP (3% act-2.6% exp) saw the pair trigger stops on

the break of $1.1900, printing a new intra-day low of $1.1895.

*The dollar pared back some of its post US Data gains, with the

rate grinding to recovery highs of $1.1937 before slipping back towards $1.1915.

* Broad based dollar demand following rising US Tsys yields and

profit taking by ECNS, has seen the rate drop towards $1.1900. Dip buyers

emerged pushing the rate towards $1.1920.

*A fresh wave of dollar demand, following an order driven move

has seen the rate drop to a new intra-day low of $1.1883.