‘Growth is coming back, not sufficiently so’ – French President Hollande

FXStreet (Mumbai) - France's President Francois Hollande crossed the wires on Monday noting that the euro area's second largest economy may expand at a faster pace than previously anticipated this year, but the growth still won't be strong enough to tackle the country's high unemployment rate.

He said, "Growth is coming back, not sufficiently so. We will most probably have more than 1% growth in GDP this year."

EUR/USD surrenders gains, back to square one around 1.1150

The EUR rally lost steam and the major retraced to the familiar range around 1.1150 levels heading into the European afternoon as the markets continue to favour the US currency amid divergent monetary policy outlooks.
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NFP data points towards September lift-off – BAML

Ian Gordon, FX strategist at BAML, notes that the recent employment report has left the doors open to Fed for a rate hike as early as September.
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