EUR review

This week, so far, has proven the best for U.S. importers in more than a month. The euro is on course for its first weekly decline since early April. 

The ECB played a big part in the euro's under performance after a senior official said the central bank would redouble its monetary stimulus over the coming weeks ahead of an anticipated lull in the bond market later in the summer. Stronger stimulus over the short run could have the added effect of putting lids on both skyrocketing area bond yields and the euro which had outperformed over the past month when it hit three-month highs. 

Germany's big Ifo survey of business optimism lost a step for the first time in seven months, but by holding on elevated terrain it had little impact on the euro.