The euro remains supported by a weaker US dollar

The US dollar tumbled further after a slower rise in U.S. inflation during May, which suggested that U.S. interest rates will remain low for now. Consumer prices had the biggest annual drop since 1950. Recently, the markets had started to price in rate hikes by year end, but it is still premature according to some analysts. Yesterday, U.S. housing starts came out strong, but the market still needs more evidence of solid growth for risk appetite to continue. Poor industrial production, which