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At 3.55 am ET Thursday, the Federal Employment Agency is set to release unemployment data for July. Germany's jobless rate is expected to rise marginally to 6.5 percent from 6.4 percent in June.
Ahead of the data, the euro dropped against its major counterparts.
The euro was worth 123.48 against the yen, 1.0745 against the franc, 0.9062 against the pound and 1.1754 against the greenback as of 3:50 am ET.
