Forex - EUR/JPY dips ahead of German industrial production report
Published Oct 07, 2012 09:22PM ET
In Asian trading on Monday, EUR/JPY hit 102.37, down 0.18%, up from a low of 102.32 and off a high of 102.45.
The pair sought to test support at 101.86, Friday's low, and resistance at 102.80, Friday's high.
Germany will release month-on-month industrial output figures later in the day and until the numbers hit the wire, investors opted for safe-haven currencies such as the yen and the dollar.
Markets were anticipating the country's industrial production rates to contract 0.8% in August from July, when the number rose by 1.3%.
A group of eurozone finance ministers are due to meeting on Monday in Brussels, and investors sold the euro to await any policy announcements that may come from the talks.
The euro, meanwhile, was down against the pound and down against the Canadian dollar, with EUR/GBP trading down 0.09% at 0.8072 and EUR/CAD trading down 0.32% at 1.2718.
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Written By: Investing.com
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