EUR-USD continued to make time in the mid-1.11s after dipping to a one-week low at 1.1130 on Monday. Yesterday's statement from the Eurogroup reported progress in bailout negotiations with Greece, but said that more time and effort are needed to bridge the gaps. Elsewhere, USD-JPY rose to a one-week high of 120.28, and EUR-JPY and other yen crosses also gained. BoJ Governor Kuroda said today that the central bank is not thinking of cutting interest on excess reserves. Sterling continued its post-election outperformance.
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