EUR-USD has consolidated in a narrow range just below yesterday's two-week peak at 1.1285, and the lack of correction points to a continuing bullish sentiment. The May-19 high at 1.1326 provides the next upside target. Bund yields surged yesterday following an upgrade in ECB inflation forecasts, and despite ECB President Draghi reaffirming the central bank's commitment the full implementation of the QE program.
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