Europe open $1.1743, range.............>

EURO SUMMARY: Europe open $1.1743, range $1.1692-1.1758, NY open $1.1702, range

$1.1682-1.1779

*Reuters source story suggested no policy change announcement at Jackson Hole

from ECB Draghi reversed Eur rally.

*Pared part of its earlier recovery gains, after rate had bounced

back from lows of $1.1692 to $1.1739, traded to $1.1703 into the NY open

*The release of weaker than expected US July Housing Starts witnessed

the rate spike to $1.1720

*The dollar pared back its losses post US data, as the rate fell

towards $1.1700.

*Broad based dollar demand saw the support at $1.1685 break,

as the rate dropped to a new intra-day low of $1.1682

*A dovish tone from the FED, as inflation concerns continued to be in

focus and further hikes would be dependent on financial conditions, saw the rate

spike to a new intra-day high of $1.1779. Sellers emerged pushing the rate

towards $1.1765 into the close.