EU Commission out with some topical comments 29 Jan
- trade policy is not a zero-sum game
- EU pledges swift response to any restrictive measures
- EU engaged with US over trade agenda
This tit-for-tat rhetoric on trade only helping to create greater fragility and further yen/ general safe haven demand. CHF losses, helped by SNB, continue to be tempered by such demand.
EURJPY supply still helping to cap EURUSD despite some EURGBP-based support. Demand nearby though around 134.80 and 1.2380
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