Eur/usd - 1.2647 ... German industry output rose by 2.6% in May, much stronger than economists's expectation of 0.9% rise n upwardly revised 1.2% rise in April. However, traders are reluctant to open fresh positions ahead of the ECB rate decision. Some offers are tipped at 1.2665/70 whilst some bids are located at 1.2620/30.