The euro retreated versus the US dollar and the Japanese yen today on speculations that it rallied at a rapid pace earlier. The euro may, however, resume its rally on the decisions of Japanese and US policy makers. The Federal Reserve is scheduled to release a report today, which will reveal whether it will perform quantitative easing measures. Additionally, the Bank of Japan is expected to intervene to weaken the yen.
EUR/USD tumbled to 1.3809 at about 11:29 GMT today, after opening at 1.3877 and following a decline to 1.3775. EUR/JPY traded at 113.18, a fall from the opening rate of 113.89.
