German bund yields drop on flight to safety

The investors continue to prefer the German bunds over the bonds of the periphery nations after Greece announced that it would default on its IMF loan repayment due today.
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EUR/USD trades around 1.1170, German data capped recovery

The EUR/USD pair ticked higher from the low of 1.1155, however, a weaker-than-expected German employment figures ensured the recovery halted around 1.1170.
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