EUR has been affected by a slowdown in the eurozone's economy. On the other hand, JPY has been losing momentum recently. The pair is expected to make a correctional climb and afterwards the price could move lower.
Citing ECB President Draghi, the eurozone's economy is facing an economic slowdown that needs significant monetary stimulus. Such monetary policy could cushion the eurozone's economy from external risks which are derailing economic growth and consumer inflation. Draghi also stated that the eurozone's recovery will need a patient approach of the monetary authorities. The ECB and local governments in the EU countries are making efforts to uplift the economy despite a persistent slowdown in the global economy. Besides, the EU-US trade talks are delayed. So, any negative outcome of the talks is also expected to hurt the European economy in certain ways.
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