The Euro climbed 100pips versus the U.S. Dollar yesterday while investors gain renewed confidence in the European currency. The EUR/JPY pair was also up currently trading above 111. Fears of the European fiscal debts faded yesterday and in general investors responded by selling safe haven currencies and returning to riskier ones.
The faith in Euro might continue during today's trading session if news published thorough the day come above forecasts. Traders should continue to monitor statements of financial leaders, because lately they influence the currency market even more than news events. No major speeches are planned today.