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EUR/JPY dropping back sub 147 handle

FXStreet (Guatemala) - EUR/JPY is trading at 146.89, down -0.26% on the day, having posted a daily high at 147.32 and low at 146.42.

EUR/JPY has moved back on itself post the OPEC data when the pair rallied through 147.00 due to a decision to leave the 30 million barrel day quota as it is.

The price of Brent Crude oil, the major bench-mark for world oil prices, was falling as low as $71.23 at the time of writing from $76.61 just today which should be supportive of Asian importers where otherwise the weaker Yen has been sighted to be worrisome for the Japanese domestic economy and households in general.

Previous to the activity of the US shift, the euro took a bout of supply on the nose but there were German unemployment improvements for November at -14k compared to -1K expected and the unemployment rate 6.6% vs 6.7% expected and down from 6.7% previous. Germany’s inflation data was in line year on year 0.6% but lower at 0.0% vs 0.1% expected but up on previous change at -0.3%.

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