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Forex: EUR/JPY trims part of steep losses

After losing nearly 300 pips in the wake of Mario Draghi's comments, EUR/JPY finally found support and managed to cut a slight part of its steep losses during the American session.

EUR/JPY bounced from a low of 124.46 back above the 125.00 mark in recent dealings as risk aversion eased a tad. At time of writing, EUR/JPY is quoting around 125.25, still down 1.0% on the day.

The shared currency was heavily sold as ECB President Draghi talked down the euro today at a press conference. He said that even though the exchange rate isn't a policy target, the ECB would monitor the euro's level to see if it alters inflation risks.

Forex: EUR/USD back above 1.3400

The bloc currency is picking up some pace now, trading back above the key resistance at 1.3400, as bearishness continues to prevail among euro traders. ...
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Forex Flash: Euro setbacks to be temporary; EUR/USD to trend higher to 1.40 - Danske

"ECB masters verbal intervention." Following the Draghi's press conference, the EUR/USD collapsed around 200 pips in an impressive decline from 1.3570 to reach the lowest level since January 25th at 1.3370. Currently the pair is trading in consolidation mode around 1.3390.
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