Recently, the euro against the yen slipped  Fibo Quantum Scalper but the big loser from the strong yen is the U.S. dollar. Last November, the yen reached 14-year record high against the greenback, concurrently with the euro, which at that time also made strong gains on the world financial markets. This continuous strengthening of the yen forced the Bank of Japan to intervene in the currency market after the dollar hit a fresh 15-year low level against the yen recently, intervening in the market for the first time since 2004.

The yen may look like an exotic currency to many people; however, the euro against the yen is of utmost importance for the price of such everyday activities like watching TV or jabbering via your mobile phone because Japan's exports of consumer goods depend heavily on the foreign exchange rates and weaker yen, in particular.

According to Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, the three main challenges for the euro area are the following: implementation of structural reforms that will eliminate cross-country differences in real economic performance, introduction of stricter financial discipline in the sphere of public finances and adoption of stricter policies for risk management in the financial sector. Whether these policies will be successfully implemented is an open question but the euro exchange rate will depend heavily on such measures. It is an elementary truth that the economic performance is the main pillar of a stable exchange rate so the first challenge mentioned should be a priority, analysts agree.

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