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Europe open $1.1880, range.............>

EURO SUMMARY
EURO SUMMARY: Europe open $1.1880, range $1.1871-1.1889, NY open $1.1871, range
$1.1728-1.1877
*The release of better than expected NFP (180,00exp-209,000act) and
average hourly earnings coming in as expected (.3), saw the rate drop to a new
intra-day low of $1.1825.
*A fresh wave of broad based dollar demand, in reaction to comments
from Cohn who said "we want companies to bring money back to the US", combined
with impressive US data witnessed the rate print a new intra-day low of $1.1792.
*Downside momentum continued with slippage extended to $1.1750 triggering
reported stops on the move.
*A further wave of dollar demand in extremely thin markets, witnessed
the rate trigger further stops through the break of $1.1750, with the rate
printing a new intra-day low of $1.1728. ECNS were reported buying at the lows
pushing the rate towards $1.1760.
*The dollar continued to give back its gains into the close with the rate
heading towards $1.1780.

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