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Euro Weakens After Mixed German Inflation Data, Falls to Two-Year Low Against Pound

The euro weakened after German regional inflation data showed low month-on-month inflation, despite higher year-on-year figures, causing the currency to dip 0.2% to $1.0838. It also declined against the pound, reaching 84.84 pence, its lowest level in almost two years. Despite recent declines, the euro is on track for a 1.6% rise in May, marking its first monthly gain this year.