EUR review

The euro rose above three-week lows against its U.S. counterpart, though shaky underlying sentiment contributed to its fall to two-month lows against sterling. The euro firmed after business activity in France picked up in May. 

That was heartening news since recovery in the bloc's No. 2 economy has largely been a laggard. But any support to the euro from the French data shouldn't get it far as activity in the top German economy ebbed in May. 

The big weight on the euro this week has been talk the ECB would strengthen its already potent monetary stimulus over the coming weeks to allow it scope to cut back on its policies later in the summer while bond market activity typically slows. Greece's inability so far to secure badly needed rescue funds has also pressured the single currency.