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7 Jan 2015
EUR/JPY inches higher after EZ CPI
FXStreet (Córdoba) - The euro shrugged off a negative Eurozone inflation reading and even inched a couple of pips higher after the release of the CPI, as the core number unexpectedly rose.
Eurozone consumer price index dropped 0.2% in December following a 0.3% increase the previous month and below the 0.1% fall expected. However, the core CPI, that excludes volatile items as food and energy, rose 0.8% against a rise of 0.6% of consensus.
EUR/JPY moved off daily lows and managed to regain the 141.00 level, climbing to the 141.30 zone. At time of writing, EUR/JPY is trading at 141.20, still up 0.31% on the day.
However, the shared currency remains under broad pressure amid prospects the ECB could announce a QE program at its next meeting on January 22.
Eurozone consumer price index dropped 0.2% in December following a 0.3% increase the previous month and below the 0.1% fall expected. However, the core CPI, that excludes volatile items as food and energy, rose 0.8% against a rise of 0.6% of consensus.
EUR/JPY moved off daily lows and managed to regain the 141.00 level, climbing to the 141.30 zone. At time of writing, EUR/JPY is trading at 141.20, still up 0.31% on the day.
However, the shared currency remains under broad pressure amid prospects the ECB could announce a QE program at its next meeting on January 22.