6 Jun 2013
EUR/JPY advances as Draghi speaks
FXstreet.com (Córdoba) - The shared currency rallied over 100 pips from session lows against the yen as ECB President Mario Draghi addresses the press in a conference.
After the decision of the ECB to leave rates unchanged, EUR/JPY fell to a session low of 129.65 but then bounced sharply toward the 130.65 zone on Draghi's words. At time of writing, the cross is trading at the cross is trading at the 130.60 area, 0.7% above its opening price.
Among the highlights, Mr Draghi said that the ECB has considered many non-standard measures, including negative deposit rates, although he sees no reason to act on that at the moment. ECB President also reiterated the bank stands ready to act if needed.
After the decision of the ECB to leave rates unchanged, EUR/JPY fell to a session low of 129.65 but then bounced sharply toward the 130.65 zone on Draghi's words. At time of writing, the cross is trading at the cross is trading at the 130.60 area, 0.7% above its opening price.
Among the highlights, Mr Draghi said that the ECB has considered many non-standard measures, including negative deposit rates, although he sees no reason to act on that at the moment. ECB President also reiterated the bank stands ready to act if needed.