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EUR/USD halted by USD/JPY rebound and EUR/GBP fall
As noted here earlier today, the USD/JPY reclaimed the 152 handle and that move helped to push the EUR/USD down towards 1.0450. The EUR/USD had set a synthetic US close last night at 1.0484. The low seen earlier this morning was set at 1.0452. It is off that low now though, as the USD/JPY edges back down. The rise in the Pound following the UK jobs report a short while ago has also forced the EUR/GBP to fresh session lows and that is also acting as a headwind for the EUR/USD and so far stopping it from rebounding much at all. So, as is often the case, the EUR/USD is the wash for its leading cross pairs (EUR/GBP and EUR/JPY). There is an important German release later this morning- the ZEW index and that might deliver some more centric EUR/USD price action, where that is clearly not the case right now. That ZEW index is expected to show a significant improvement at 10am GMT. We shall have to see, if that is the case. The EUR/USD is currently trading at 1.0464
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