EUR/USD: buying dips - Scotiabank

Analysts at Scotiabank explained that German inflation was finalized at –0.2% m/m in May; Eurozone industrial production rose 0.5% in Apr, as expected (Mar revised higher to +0.2%). 

Key Quotes:

"EUR is little changed as the market continues to consolidate close to recent peaks.

Spreads remain adverse but are not a huge factor in driving the EUR currently.

Relative equity market returns continue to support the EUR while markets also appear to be factoring in some political risk to the USD as Washington uncertainties persist.