EUR/JPY Hits A New 4-Year High

November 25, 2013

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in today’s Asian session.

Bank of Japan Governor Kuroda kept markets speculation that the yen will weaken over time as the BOJ continues with its aggressive monetary easing policy and asset purchase program which is aimed at fighting deflation in Japan.

The euro climbed to a high of 137.97 yen in the early Asian session while the dollar pushed past Friday's high and climbed to 101.90 yen, the highest since May 29.

The increasingly diverging monetary policies of the Federal Reserve and the Bank of Japan will help keep the dollar/yen’s upward momentum.

Against the dollar, the euro hit a high of $1.3559 before declining slightly on profit taking to $1.3539. The euro has made a substantial recovery from last week’s tumble to $1.3398, caused by rumours of negative interest rates from the European Central Bank. These rumours have since been downplayed by ECB Chief Mario Draghi.

The British pound remained above the key $1.62 level, with GBPUSD hitting an early session high of $1.6239.

The Aussie slid lower to a new 2-1/2 low of $0.9120 as it remains under pressure by the threat of intervention from the Reserve Bank of Australia after comments from Governor Stevens last week who said he is “open-minded” about such a move as he believes the AUD is overvalued compared with fundamentals.

Publication source
FxNet information  FxNet reviews

October 24, 2016
Dollar at a 3-week winning streak
The US dollar completed three weeks of back to back gains with the US dollar index seen trading above the 98.55 handle. Without any pullback so far, further upside could come at a significant risk...
October 24, 2016
Golden week for dollar but USD/JPY bucks trend
It has been a very good week for the US dollar and a really bad one for the euro and Canadian dollar, among others. The rally has lifted the Dollar Index to its highest level since early February and possibly on course to 100...
October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart... Rating
HotForex Rating
OctaFX Rating
OANDA Rating
FXTM Rating
FIBO Group Rating

TopOption Rating
Anyoption Rating
24option Rating
365BinaryOption Rating
IQ Option Rating
Banc De Binary Rating