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ECB’s Coeure: Euro at appropriate level for economic situation

The European Central Bank (ECB) executive board member Benoit Coeure is out on the wires now, speaking in an interview with Le Parisien newspaper.

Key Headlines:

Euro at appropriate level for economic situation

French people don't want to exit the euro

Eurozone has to undertake reforms

Euro is a lever of sovereignty

Euro has benefitted the disadvantaged

Greece's problems not related to euro membership

Higher public debt wouldn't boost French growth

EUR/USD: Fresh bids emerge just ahead of 1.0700

The bid tone behind the US dollar appears to have weakened a bit in early Europe, allowing a tepid-bounce in EUR/USD, after having tested 1.07 handle.
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EUR/USD breaches 1.0700 ahead of German data

The minor-recover seen in the EUR/USD pair lost legs just below 20-DMA, knocking-off the rate briefly below 1.07 handle. EUR/USD looks vulnerable Cu
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