Italy Producer Price Index (MoM) up to 0.2% in May from previous -0.1%

The shared currency bounced-off lows and extends its recovery versus the US dollar in the mid-European session, lifting EUR/USD closer towards 1.12 handle. The main currency pair stalled its downslide and recouped major chunk of losses as markets anticipate new proposals from both Greece and its creditors while above estimates Euro zone CPI print also provided the much needed impetus to the euro.