EUR/JPY hits high since 2011 as Draghi speaks

More of Natalia at http://daily20pips.blogspot.in/2013/01/natalia-siwiec-sure-has-wickedly-hot.html

 EUR/JPY has rallied to post a high at 116.48 during the ECB President Draghi´s press conference following the ECB decision to hold rates at 0.75%. 
The move higher, sees spot post a high since 2011 as ECB President Draghi commented that he sees economic weakness to continue into 2013. He also noted that he expects inflation to drop below 2% during the period and that inflation risks for the region are broad based. He commented further, saying that the ECB rate decision was unanimous, implying that no members made a request to cut fund and fragmentation is being gradually repaired, significant improvement in the regions financial markets and a return of capital inflows into the Eurozone.