Euro/dollar: European open $1.1825,....>

EURO SUMMARY: Euro/dollar: European open $1.1825, range $1.1817-68, NY open

$1.1836, range

*The release of mixed US ADP data (weaker number and better

revisions), witnessed the rate slip towards $1.1815.

*A sharp spike in the pair following dovish comments by Bullard (MNI exclusive)

who opposes any further rate hikes, has seen the rate jumped to $1.1857. The

rate met resistance and slipped back under $1.1850.

*Continued pressure on the dollar following dovish comments from the

Fed's Bullard, saw the rate grind further to a new intra-day high of $1.1871

before meeting supply and slipping back towards $1.1860.

*Renewed dollar pressure, as the market continued to digest MNI exclusive

interview with the Fed's Bullard, witnessed stops triggered through the break of

$1.1900. The pair printed a new 2 1/2 year high of $1.1910

*Macro names were reported to start taking profit, pushing the rate towards

$1.1855.