Euro Zone current account surplus widens in June

The euro zone current account surplus increased considerably in the sixth month of the year when compared to the previous month on a seasonally adjusted basis, data from the European Central Bank (ECB) showed on Wednesday.

The euro zone's current account recorded a rise in its surplus to €25.4 billion in June, seasonally adjusted, and compared with a revised €19.1 billion in the previous month, according to the ECB's report.

A positive current account balance indicates that the entity is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower from the rest of the world.

Gains on the euro are capped, however, by the fact that Greece has to repay $3.5 billion to European Central Bank on Thursday. The market remains pre-occupied with the timing of first rate increase by US but the Federal Reserve has been trying to the shift focus to the tightening process as a whole.