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EUR/USD gains stymied by EUR/JPY falls

As mentioned in the previous update noting the falls in the USD/JPY and how that had also sent the EUR/JPY abruptly lower, it is that fall which has weighed on the EUR/USD so far today and capped any further gains above the 1.09 handle. The Euro had lifted to a high yesterday, around the time of the European close, at 1.0915. It later closed in the US at 1.0899. I said in an update here ahead of that; it was unlikely to move much beyond the 1.09 handle owing to the proximity of the ECB rate decision today. Well, it has been further halted on the upside today, because of that push lower in the EUR/JPY. There will be plenty to add on the Euro as the day unfolds, with that ECB policy decision very much in focus. The range seen so far has been covered by 1.0894 to 1.0907. The EUR/USD is currently trading at 1.0901 
 

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