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10 Feb 2015
EUR/JPY: Risks mounting to the downside over Greece
FXStreet (Guatemala) - EUR/JPY is trading at 134.36 with a high of 134.40 and a low of 134.33.
The main risk event for EUR/JPY comes in developments in the EZ and Russia and Ukraine. In the EZ, Greece is the main theme now that we have a clear guide as to what the ECB intends to do for the medium term with QE. So political events take charge with an emergency meeting taking place on Wednesday in Europe between Greece's Financial Minister and the Eurogroup.
Fears that Greece might default drove yields high into dangerous territory at the start of the week; the three-year Greek bond hit levels not seen since its 2012 restructuring and sent European stocks lower overnight. Indeed concerns are mounting but Greece’s finance minister, Yanis Varoufakis, has insisted that there’s no conflict with the rest of Europe.
The main risk event for EUR/JPY comes in developments in the EZ and Russia and Ukraine. In the EZ, Greece is the main theme now that we have a clear guide as to what the ECB intends to do for the medium term with QE. So political events take charge with an emergency meeting taking place on Wednesday in Europe between Greece's Financial Minister and the Eurogroup.
Fears that Greece might default drove yields high into dangerous territory at the start of the week; the three-year Greek bond hit levels not seen since its 2012 restructuring and sent European stocks lower overnight. Indeed concerns are mounting but Greece’s finance minister, Yanis Varoufakis, has insisted that there’s no conflict with the rest of Europe.