The FX markets are relatively quiet, with most currencies well within their month-long ranges. Uncertainty remains with Greece, as a possible exit from the Euro still exists. The German-led bloc appears more willing to allow Greece to leave the EMU if they are unable to come to some kind of resolution soon.
The broad theme for the Euro is that improving economic fundamentals are being offset by ongoing uncertainty from Greece, as well as large Euro outflows, combined with minor changes from ECB policy.
So for the time being, the Euro is staying within its range of 1.1098 to 1.1542. The likely culprit that would cause the Euro to break out of this range is either Greece or the Fed. The more plausible scenario is continued strength of the USD, with a Euro potentially moving towards 1.05 to 1.10 by year-end.