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EUR/USD drifts back under 1.07 as USD/JPY rebounds and EU data disappoints

The EUR/USD is drifting back underneath 1.07 just now. The reason for that lies with a rebound in the USD/JPY, from its earlier low at 154.54, close to the 156 handle a short while ago. The second reason stems from a series of EU confidence indexes, all of which have missed on expectations. It is that which seems to have had the most immediate impact on the Euro though. Hence, the EUR/USD has drifted back underneath the 1.07 handle again. That said, the wider range on the day remains intact for the time being (1.0687-1.0734). The low seen a moment ago was set at 1.0698. It is currently trading at 1.0701

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