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EUR/USD hit from both sides after Japanese and French news sends EUR/JPY sharply lower
Following on from the previous update, noting the latest French CPI data and how that has negatively impacted the EUR/USD, the Euro has now fallen back to fresh session lows. That is just now at around 1.1140. The EUR/USD was already under pressure from rapid selling in the EUR/JPY following the slide in the USD/JPY and what that might mean for the short Yen carry trade. This French data has merely served to extend the move lower in the cross and further dent the EUR/USD at the same time. The EUR/JPY is the major driver for the price action in the EUR/USD right now and likely to remain that way for the time being. The EUR/USD is currently trading at 1.1150
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