Germany Harmonised Index of Consumer Prices (YoY) meets forecasts (0.1%) in July

The shared currency took a breather in its recent upsurge and extends losses versus the US dollar in the early European trades, with EUR/USD now testing lows back on 1.11 handle. The major gave away a portion of previous rally and is seen consolidating ahead of German CPI data and ECB minutes due for release later this session.