EUR-USD has opened the new week in a consolidation at moderately lower levels after logging a three-month high at 1.1466 on Friday. EUR-JPY and euro crosses have also shown a similar price action. Recent signs of nascent economic vitality and the associated view that the ECB may be obliged to taper its QE program at some point, coupled with an optimistic view on the Greece situation, have been maintaining the euro's underpinning. Elsewhere, USD-JPY is firmer today, though Friday's 119.92 has remained unchallenged. EUR-CHF has firmed to the 1.0500 area amid a generally firmer euro.
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