Source: Forex Yard – The U.S Dollar and JPY edged lower against major counterparts in Asian and European trading Monday, as the European currency continued its recovery from Friday after the European Union enlisted the assistance of the International Monetary Fund to help with Greece’s recovery plan.
The Yen continued its decline against the EUR on signs the global economic recovery is substantiating, boosted demand for higher-yielding assets. The JPY declined against its 16 major counterparts ahead of the U.S Non Farm Employment report Friday that is expected to show the U.S. job market is improving, further supporting market optimism.
The EUR is currently at $1.3471, from $1.3410, after climbing as high as $1.3527. The Yen fell to 124.64 per EUR from 124.06 in New York last week. Japan’s currency is relatively unchanged at 92.50 per USD, from 92.52 Friday. The Pound is currently at $1.4982 after earlier rising to $1.5018.
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