Forex News EUR/USD, EUR/JPY rising, likely to continue upward trend in near term amid favorable conditions for EUR, says Tsutomu Soma, senior trader at Okasan Securities. "The dollar is beset by various problems and the yen is completely out of the loop; for the time being, the euro will probably be the currency of choice," he says. Also, despite high EUR/USD level, no complaints heard from E.U. officials; "amid the current high inflation, a stronger currency is favorable and simpler than raising interest rates, so there is little risk of hearing much opposing comments for now," he says. Says, EUR/JPY, EUR/USD both likely to rise further with EUR/USD likely to once again target record high. EUR/USD last at 1.5866, EUR/JPY last at 166.55 on EBS.
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