Week one 2015 short covering taking place in - SG

FXStreet (Guatemala) - Kit Juckes, head of foreign exchange research at Societe Generale SA noted the price action in the Euro and Yen.

Key Quotes:

"Otherwise, the Euro is finally getting some short-covering but unless it makes it to EUR/USD 1.21, we will still be down on the week and that is enough to make the pattern of 'down in week one means down in the year' relevant".

"Likewise USD/JPY is now down on the week, which usually means it'll be up on the year. Fine by me".