The ECB could go for another rate cut by the summer, governing council member Francois Villeroy de Galo said on Tuesday. The ECB's next monetary policy meeting will conclude on June 5.After surging earlier in the week, the U.S. dollar is correcting. According to a Bank of America survey of global fund managers, the share of dollar assets in their portfolios has reached its lowest level in 19 years.The next indicator of the US economy will be the retail sales data for April, which is expected to be released tomorrow.Despite the current weakening of the US dollar, EUR/USD is holding below 1.1200. If the downtrend continues, support closer to the range of 1.0900-1.1000 is still likely.