EURJPY In Japan’s Glare
The euro experienced a double-dose of upside during the Asia session. First, Japan’s Finance Minister Azumi raised the possibility of intervention in EURJPY, but said he has not yet made a decision on the matter. We see the immediate intervention risk as remote, but investors were in no mood to take chances. China’s Q4 GDP growth then came in stronger than expected, boosting the euro and taking AUDUSD briefly through 1.04. EURUSD traded 1.2649-1.2737, USDJPY 76.67-76.88. Earlier, a senior off…
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UBS Investment Bank