Haven yen eased on improved risk sentiment

FX:EURJPY   Euro / Japanese Yen
Euro advanced Monday against the yen after a week of turmoil. The expectations of the fiscal stimulus from Germany and announcement form China central bank over the weekend to cut corporate lending costs pushed up markets and improved risk sentiment. Japanese yen was weighed by the worse-than-expected data. Japan Ministry of Finance reported Exports fell 1.6% in July from a year earlier and for an eighth straight month. Japanese manufacturers’ business confidence also turned negative for the first time since April 2013 in August. The pair rebounded above 118.00 thresholds. Worse-than-expected Eurozone inflation capped a few gains. Three-week high around 119.500 in sight.
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