EUR/JPY continues its winning streak for the fourth consecutive day, trading around 173.30 during the European session on Monday.
EUR/JPY gains upside traction as sentiment improves to the far-right sweep in the first round of the French election.
Eurozone Manufacturing PMI was revised higher to 45.8 in June but remained below the survey average of 51.6. The Japanese Yen may limit its downside as an upbeat Japan’s business confidence data lifts market sentiment. The Euro has gained upside traction as the traders reacted positively to the far-right sweep in the first round of the French snap election on Sunday.
Eurozone Manufacturing PMI was revised higher to 45.8 in June from a preliminary estimate of 45.6. Still, the PMI remains well below the survey average of 51.6, with output contracting at the fastest rate so far this year. European Central Bank Governing Council member Olli Rehn suggested last week that the central bank might cut interest rates twice more this year.
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