Market Research: EUR

Source: Dukascopy Bank SA
The past period was hugely successful for the Japanese yen, as it was once again pushed up by its safe haven status. Spending the first two days at the base level, the JPY Index surged to 101.5 at the beginning of Tuesday's European trading session, a few hours after the weak Chinese factories data release. From there on, the index held above the baseline and maintained the leading position. The week was notably less fortunate for the Pacific currencies. Thus, during the first two days of the current trading week, the Kiwi's and the Aussie's gauges lost more than 2 points and became the main losers of the period. Among other currencies, the Euro suffered the sharpest downslide following President Draghi's statement about the ECB's decision to downgrade inflation and GDP forecasts, and shared the third worst performer's position with the pound.

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