The EUR/USD pair climbed to its highest level in over two weeks, reaching above 1.0770 yesterday but lost momentum and fell below 1.0750. The pair is pressured by the expected decline in June's preliminary Eurozone Consumer Price Index data.
The current inflation readings are unlikely to provide clear signals on price pressures, with the annual CPI slowing to 2.5% and core inflation rising steadily due to stable service inflation. German CPI showed decreased price pressures, possibly leading to ECB interest rate cuts.
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