The EUR lost a lot of ground on the crosses late last week with EUR/JPY and EUR/AUD leading the way. EUR/USD is still holding above support levels near 1.2850 but with bearish sentiment so ingrained, we are sure to see some more tests early this week. From a day-trading perspective, I would expect Japanese politicians and finance officials to become much more vocal, now that EUR/JPY is below 100. Not much of note on the economic calendar, with Singaporean GDP providing some interest to EM traders.
Good luck today and for the whole of 2012.
