EUR crosses

EUR/JPY back to opening levels after promising Chinese data

Thankfully nobody ever questions the tenuous links between the EUR/JPY and Chinese economic data. We all just accept that good data means “risk on” and therefore we should be buying the Yen crosses.
The latest HSBC China services PMI showed a solid improvement from last month, 54.0 from 51.7, and this has helped EUR/JPY back to opening levels at 124.70.

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