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The euro rose to a session high of $1.2321 on trading platform EBS, rising past stop-loss buy orders above $1.2310. Offers to sell the euro were reported above $1.2330/50, traders said.
"I think it'll be rangebound until September," a London-based trader said, adding that he expected the euro to trade between $1.2220 and $1.2370 this week.