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The euro slipped against the majority of its most-traded peers on speculation European leaders are slowing the drive to grant Greece additional aid, fueling concern the nation may be forced to restructure its debt.
German Chancellor Angela Merkel yesterday said Greece needs to stay the course on budget cuts to deserve an extension of the 110 billion-euro ($158 billion) lifeline granted last year.
The pound surged as the Bank of England said U.K. inflation may reach 5 percent this year.
The pound strengthened to a one-month high versus the euro after the Bank of England said the outlook for growth has deteriorated in the past three months and that it sees inflation “markedly higher” in the near term.
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