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Pullback In NRW CPI Provides EUR Downside & Bid For German FI

CROSS ASSET

EUR/USD trades as low as $1.0506 as the German State of North Rhine Westphalia sees headline Y/Y inflation ease to +7.5% in Y/Y terms in June (prev. +8.1%), while the M/M reading printed at -0.1% (prev. +0.9%). EURUSD trades off of worst levels of the session last, $1.0510. German fixed income futures (Bund, Bobl & Schatz) shunted higher on the print.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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