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EUR/JPY trades flat at Y116.15, hovering...>

EURO-YEN
EURO-YEN: EUR/JPY trades flat at Y116.15, hovering just above the Y116.00 mark
through the session. Little to move the needle for the pair, it has been happy
to hold a tight range thus far.
- BBG reported yesterday that the European Commission proposed allowing state
support to companies via subordinated debt granted under favourable terms. The
proposal has been reportedly circulated among member states.
- Bearish focus falls on Apr 24 low of Y115.55, the worst level in a couple of
years. A break below there would open up Apr 2017 low of Y114.85. Meanwhile,
bulls look for a rally through Apr 23 high of Y116.8, towards Apr 22 high of
Y117.22.
- EZ economic docket this week features French consumer confidence (today),
German CPI & EZ sentiment measures (Wednesday), as well as advance EZ GDP, a
slew of CPIs from across the region and ECB MonPol decision (Thursday).
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