Investing.com - The euro firmed against the yen on Tuesday after
investors abandoned safe-haven yen positions taken up during
Monday's global market selloff and chased the single currency for
In U.S. trading on Tuesday, EUR/JPY was up 1.91% at 128.54, up from
a low of 125.00 and off a high of 129.03.
The pair sought to test support at 125.00, the earlier low, and
resistance at 129.32, Monday' high.
In Europe earlier, Germany's ZEW index of economic sentiment index
dropped to 36.3 in April from 48.5 in March, falling short of
market expectations for a 42.0 reading.
The broader eurozone ZEW economic sentiment index ticked down to
24.9 this month from 33.4 in March, also falling short of market
expectations, which were forecasting a 31.5 reading.
Prices in Europe, however, remain stable, according to economic
data, which enticed investors out of safe-haven yen and dollar
Eurostat reported earlier that the eurozone's consumer price index
remained unchanged at an annualized rate of 1.7% in March, in line
Core CPI in the single currency bloc rose 1.5% last month, up from
1.3% in February and beating market expectations for a rise to
Softer-than-expected Chinese growth figures and a disappointing
regional U.S. manufacturing index sparked a rush to safe-haven
currencies on Monday.
The euro, meanwhile, was up against the pound and up against the
U.S. dollar, with EUR/GBP trading up 0.57% at 0.8578 and EUR/USD
trading up 1.14% at 1.3186.
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