The Euro (EUR) The Euro collapsed across the board after shock miss in the German GDP for Q4 started a large sell off in EUR/JPY. EUR/JPY had been enjoying a fast rally for the last 2 months and the shock of an EU Q4 GDP figure of -0.6% Q/Q sent the fast moving pair down 200 pips to Y124 support. Further losses are possible ahead of the G20 with traders cautious of any potential statements regarding Japans recent Yen losses.
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