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Euro little changed in a quiet morning trade

It is a steadier morning part of the session for euro with no major data releases. With Greece bailout program being approved, traders are again focused on Eurozone inflation and ECB monetary policy. The latest drop and a weaker long-run target for oil prices mean that the autumn inflation pick-up will be moderated somewhat. However, the fall-out of negative base effects and a gradual increase in core inflation due to weak potential growth still imply a return to above 1% inflation in the euro zone around New Year.
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Euro still below 1.09 handle

Euro found some support after euro zone ministers agreed on Thursday to give Greece a €7 billion bridging loan from a European Union-wide fund to keep its finances afloat until a bailout is approved, however it is still being traded below 1.09 handle.. The loan was expected to be confirmed on Friday by all EU member states. Read more...

Tsipras: It's a crucial time for Greece and Eurozone

European Central Bank chief Mario Draghi assured euro zone leaders on Tuesday the ECB would do the necessary to keep Greek banks afloat until a
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Euro higher in a steadier European part of the session

It is a steadier European part of Thursday's session without any major data releases from Eurozone. Retail PMI rose for the third consecutive month in May to 51.4, from 49.5 in April. Actual like-for-like sales compared with the same month one year ago showed little change, as was the case in the previous survey period.   
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