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German Foreign Minister Maas was on the wires earlier today, via Reuters, responding to the latest US tariffs on the European goods.

Maas: “The European Union now will have to react and, after obtaining the approval of the World Trade Organization, probably impose punitive tariffs as well.”

 His comments come after the WTO ruled that some subsidies EU states paid to planemaker Airbus were illegal, allowing the US to impose the tariffs on the European imports.

EUR/USD continues to trade in a narrow range around 1.0970, as the recovery lacks follow-through ahead of the US employment data.