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Approaching Monthly Highs


EUR/JPY picked up a bid yesterday, with the yen lagging all of its G10 peers in holiday-thinned trade, which allowed the pair to print best levels since Feb 1. The rate last operates at Y127.12, 6 pips higher on the day, with bulls looking for a break above Feb 11/Jan 29 highs of Y127.16/24, followed by Jan 7/Mar 1, 2019 highs of Y127.49/50. Conversely, a dip through the 50-EMA at Y126.07 would shift focus to Jan 27 low of Y125.60.

  • European Commission Vice-Pres Sefcovic & UK Cabinet Office Min Gove released a joint statement noting that they seek "workable solutions" to resolve differences over Northern Ireland.
  • Five Star Movement members voted in an online referendum in favour of backing Mario Draghi as the next PM, in another win for the ex-ECB chief. Draghi may report back to Pres Mattarella as soon as this week.
  • Final Spanish CPI takes focus on the data front today, ECB speaker slate is empty.

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