EUR/JPY: The Long-Term View

The Dollar had a very tough day in thin trading on Monday, falling against all other majors. Losses against the Swiss Franc were more pronounced than in other pairs, as the Iranian nuclear dispute continued to factor into the overall Dollar risk equation. With the world's banks now officially back from holidays, trading has, thus far, been restrained. On the data front, March housing starts fell by 7.8% to an annual rate of 1.96m, which is lower than expected and gives some additional credence to the view that housing is entering a slow-down. Producer prices rose 0.5% in March, above expectations for a 0.3% gain. Read More....