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EUR/USD gets a lift from EUR/JPY rise above 161 this morning

Yesterday afternoon, the EUR/USD fell back from an earlier European session high, at 1.0789. The move lower came as the latest data on US jobless claims did not disappoint. However, the fall was relatively contained and held around 1.0740. The EUR/USD later edged back up into the US close, where it ended that session at 1.0778. It has held a tight range again today, with 1,0769 to 1.0785 covering it thus far. That said, the Euro is pressing back close to the highs seen yesterday and the major reason for that is all about Yen weakness. As noted in the previous update, that Yen weakness is also being seen, not just versus the dollar, but also versus all its major counter parties and not least in the EUR/JPY. That has now pushed its way above 161.20 after closing in the US last night at 160.94. The EUR/USD is currently trading at 1.0780

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