Forex: EUR/JPY hits high since 2011 as Draghi speaks
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EUR/JPY
FXstreet.com (Barcelona) - EURJPY has rallied to post a high at 116.48 during the ECB President Draghi's press conference following the ECB decision to hold rates at 0.75%.
The move higher, sees spot post a high since 2011 as ECB President Draghi commented that he sees economic weakness to continue into 2013. He also noted that he expects inflation to drop below 2% during the period and that inflation risks for the region are broad based. He commented further, saying that the ECB rate decision was unanimous, implying that no members made a request to cut fund and fragmentation is being gradually repaired, significant improvement in the regions financial markets and a return of capital inflows into the Eurozone.
The move higher, sees spot post a high since 2011 as ECB President Draghi commented that he sees economic weakness to continue into 2013. He also noted that he expects inflation to drop below 2% during the period and that inflation risks for the region are broad based. He commented further, saying that the ECB rate decision was unanimous, implying that no members made a request to cut fund and fragmentation is being gradually repaired, significant improvement in the regions financial markets and a return of capital inflows into the Eurozone.
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