EUR/GBP remains depressed below 0.8400 following dull Eurozone data

  • The Euro is trading practically flat below the 0.8400 round level, unable to put a significant distance from the 0.8380 multi-week lows, as Eurozone data strengthens the case for further ECB easing in June. Unemployment data from Germany released earlier today revealed that the jobless rate remained steady at 6.3%, but unemployment rose by 34K, well above the 11K expected by the market.