US equities have halved their early gains, prompting EUR/JPY and its two legs to lose some of the ground gain intraday. The dip follows comments a short while ago from Eurogroup head Juncker decrying currency volatility, though its not clear if the moves are linked.
Juncker is back on the wires saying he sees no threat to eurozone cohesion. In the next breath, he says we should note widening spreads in eurozone bond yields (a clear threat to cohesion). Earlier today ECB executive board member Paramo made similarly daft comments, saying that even though deflation is expected in some eurozone countries there is no chance of deflation on a eurozone-wide level. Uh huh.
EUR/USD has dipped to the 1.3130s from the 1.3180s a short while ago. EUR/JPY trades at 116.90 from 118.00 earlier highs.