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The euro is quiet on Wednesday. EUR/USD is trading at 1.0840 in the North American session, down 0.14% on the day.
German inflation rises to 2.4%
Germany’s inflation rate rose to 2.4% y/y in May, following a 2.2% gain in each of the past two months. The reading was in line with expectations, which explains the euro’s muted reaction. This is the first time in five months that German inflation has accelerated, with the increase driven by higher services and food prices. On a monthly basis, inflation rose just 0.1%, sharply lower than the…