Improved stocks markets and a bigger plunge in PPI than expected (allowing the Fed to keep rates low). EUR/JPY retains its link to equity sentiment and is firming up as stock futures moderate their losses in the US. Better than expected earnings from Hewlett Packard are helping the cause.
EUR/JPY is approaching its range top at 122.45 from overnight; same story for EUR/USD, now at 1.2662.
