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EURUSD Intraday Analysis update

The euro rose toward the $1.085 mark, extending its rebound from the two-week low of $1.08 touched on May 29th as higher-than-expected inflation in the Eurozone added to uncertainties over the ECB’s cutting path this year.

Headline inflation in the currency bloc rose more than expected to 2.6% in May, while the core gauged jumped to 2.9% to rebound further away from last month’s bottom.

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