EUR/USD The euro (EUR) touched an 11-year low against the yen and traded 0.3 percent from the least in nearly 16 months versus the dollar before the German and French leaders meet amid signs the region’s sovereign-debt crisis is damping growth prospects.
The shared currency declined 0.1 percent to $1.2704 and earlier reached $1.2666, its weakest level since September 2010.
Last week, the pair continued its fall for the second week as the dollar took advantage of the safety demand amid the undergoing concerns from the euro area.
On Monday, Both economies lack economic fundamentals which propose that there would be calm trading on the pair which is predicted to follow the general trend in market.
The USD/JPY pair fluctuated last week after it recorded its lowest level in two months, as both of the yen and the greenback recorded gains against other majors.
The USD/JPY pair‘s movements will depend on the next move from the BOJ, or the dollar performance against other majors in case the BOJ kept its monetary policy unchanged.