EUR/JPY.
The Euro, of course, has become a proxy for risk, and the Japanese Yen is the ultimate stability currency, as it’s recently traded near 14-year highs.
Earlier this month the pair was plunging, as traders freaked out over Greece et. al, and now as ForexLive points out, it’s breaking out.
All this optimism, it’s like the beginning of spring!
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See Also:
- Feldstein: Forget The Euro, I’m Nervous About The Dollar
- The Two Lies That Will Doom The Euro
- We Are All Euro Bulls Now