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EURJPY – To Fresh Highs?
Tomorrow the Fed is expected to give the dollar a boost but at the same time, the EURUSD hasn’t slowed a bit. The pair made fresh multi-month highs today as positive data out of Germany indicates that the rising currency is not hurting growth in the region.
Therefore, even if the Fed reaffirms its goal to hike rates once more before the end of the year, the rise in USDJPY won’t be accompanied by a fall in EURUSD which makes EURJPY such a compelling trade at the moment. The pair has held the 130.00 mark and could push to 132.00 if the FOMC meeting proves dollar positive as we believe it will be.