EURJPY Diverges from Global Equities Past Month

FX:EURJPY   Euro / Japanese Yen
The familiar situation of falling European sovereign yields, rising European (and global) equity markets, and a depreciating Euro             are all back in play. But for brief event-driven short covering rallies, the Euro             may be in the early stages of reclaiming its role as a funding currency – look no further than the divergence between EURJPY             and global equity markets ( DAX             , Nikkei, S&P 500             ) in recent days.
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