Euro exchange rate "too weak" for Germany

Speaking on the sideline of Eurogroup meeting in Brussels, German Finance Minister, Wolfgang Schaeuble, was noted saying that the Euro exchange rate is too weak for Germany.

Key headlines:

   •   He can't accept criticism of German trade surplus from IMF and EC
   •   Italy is still a cause for some concern
   •   The structure of EU monetary union is still very fragile
   •   All euro member states must help boost competitiveness

Meanwhile, the EUR/USD pair trimmed some of its daily gains but has been treading water above 1.0600 handle.