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EUR/JPY trades at 4-month high, is Macron victory priced-in?
EUR/JPY is trading at 123.62 this Friday morning in Asia; its highest level since January 9. The currency pair bottomed out at 114.85 (Apr 17 low) and has enjoyed a near 90 degree rally over the last two weeks as polls showed Macron maintaining a significant lead over the anti-EU candidate Marine Le Pen. Moreover, the ‘hope trade’ was set in motion following Macron's victory in the first round of elections... As predicted by the polls. European stocks attract $883 million As per Reuters report, European stock funds continued on their hot streak in the week ended May 3, reeling in $833 million in their biggest ... (full story)