The Euro (EUR) in light trade the EUR/USD broke above 1.2300 and hit day highs of 1.2375 before easing into the US session close. The strong moves were on the back of Euro Cross unwinding but was a surprise given the relatively negative news flow over the weekend. Greece GDP was -6.2% y/y in Q2 but this was actually stronger than some economists expected and a preview for the larger Eurozone Countries GDP later this week.
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