JPY moves up on EUR following greek news
- Last Updated on 16 February 2012
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The EUR/JPY spiked as high as 103.50 during European trading yesterday, following a pledge by China to continue buying euro-zone debt. The pair was not able to maintain its upward momentum, and tumbled well over 100 pips after it was announced that there may be delays in Greece receiving it's much needed bailout package.
Turning to today, euro-zone news is once again forecasted to influence the level of risk taking in the market place. Traders will want to pay attention to any updates regarding the Greek debt crisis. Unless positive news is released, the JPY may continue to move up against riskier currencies like the euro.