EUR/USD and EUR/JPY continue their grinds higher. EUR/JPY has been more dynamic, overcoming resistance at 129.50 and 129.80 and reaching 130.00 so far. EUR/USD’s gains have been a bit more muted with a 5-6 pip new high put in place on the latest rally. Resistance lies in the 13535/45 zone.
1.3045 is the next area of resistanmce in EUR/JPY as the reflation trade fires on all cylinders today. Stocks, bond yields and commodities are all firmer on the day.
