EUR's Upside Correction Risks Rising

        0434 GMT [Dow Jones] The euro fell last week mainly on heightened expectations of the European Central Bank considering more aggressive policy measures such as cutting the deposit rate to negative as soon as at its next meeting on June 5, Credit Agricole says. But the bank thinks ECB action may still depend on incoming data, and upside correction risk for the EUR is mounting near term ahead of critical European PMI releases this week (euro-zone flash PMI is due on Thursday). Credit Agricole advises against selling EUR around current levels but it still sees the EUR as a sell on rallies. Spot EUR/USD is at 1.3703, holding well above the near-three-month low of 1.3648 touched Thursday. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        May 19, 2014 00:34 ET (04:34 GMT)