After a brief spike back to 1.2660 following the ZEW numbers the EUR/USD has again commenced its way towards the important 1.2600 level, currently trading at 1.2625 with EUR/JPY back below 116.00 not helping things any. The EURO is also sharply weaker against the Cable this morning after better than expected UK CPI numbers. The EUR/GBP has traded down to a low of 0.8835 and currently sits marginally higher at 0.8844.