EUR/USD is edging higher on Thursday but the move higher lacks drive, despite a weaker U.S. dollar and as investors digest the latest German PPI inflation data. EURUSD is broadly being supported by expectations that the Federal Reserve is close to the end of its rate hiking cycle whilst the ECB is expected to continue raising interest rates potentially for a few more meetings. Data yesterday showed that core inflation in the eurozone was upwardly revised to 5.5% YoY in June, up from 5.3% in May. At the same time, headline inflation cooled from 6.1% to 5.5%. Today German PPI cooled to 0.1% YoY in June, down from 1% ... (full story)