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German unemployment rises above forecasts-EUR/JPY slips again

The latest German unemployment report has just been released covering the month of May. The markets had forecast unemployment to rise by around 10k last month. It has actually risen by 25k. The EUR/USD was trading back below 1.09 ahead of this release and certainly in the very short-term, this data has given it little excuse to rebound. Where the impact seems more relevant right now is on the EUR/JPY. That has just this minute hit a fresh session low underneath 169.25. Granted a good deal of the driver there is about the Yen and not the Euro, but this data has surely helped to put the Euro back into that dynamic a bit more

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