The euro has corrected after a three-day rally. EUR-USD logged a two-day low at 1.1179 in Asian trade, subsequently managing to recoup the 1.12 handle but remaining well off yesterday's 1.1379 peak. EUR-JPY and other euro crosses have seen a similar price action. The ebb and flow of Greek bailout negotiation developments continues to impact, while perky Eurozone May inflation data, and revision higher in ECB CPI forecasts this week, have given the euro a broadly improved fundamental underpinning.
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