The Euro-group gets its own opportunity today to complain about the EUR’s consistent strength of late. Last week, the market witnessed Euro “Ping-Pong” rhetoric on the single unit. The Euro-group’s President Jucker complained that the currency’s recent +8% gain would hinder economic growth in the region, while ECB member, Nowotny, does not expect a currency war despite a slowdown. The EUR’s +26% appreciation against the Yen over the last six months should be expecting verbal intervention, at least on the exporters behalf. Today, the Euro-finance ministers should also be focusing on the review of Cyprus’ bank recapitalization needs and are expected to approve the disbursement of the +€9.2b aid sub-tranche to Greece.

Is The Euro “Ping-Pong” Rhetoric Strong Enough To Hunt Stops? | OANDA Forex Blog