FOREX – EURJPY Reaches a 10-year Low

ForexNewsNow – The euro reached its lowest level in 10 years against the yen on Monday, falling by 1% to 102.175 yen.

The single European currency is suffering from a resurgence of risk aversion since markets are watching for any new announcements from euro zone leaders regarding the debt crisis.

The possibility of a Greek default has been weighing on the EU’s single currency for 3 months now and remains more likely to occur now than ever.

EUR/JPY – 10 years chart