EUR/JPY edges higher due to the overall positive sentiment in the market post-Fed policy decision. The recent inflation data from the Eurozone have bolstered expectations for a potential rate cut by the ECB in June. The Japan ese Yen saw a surge during the morning hours driven by possible intervention by Japan ese authorities. The pair trades around 166.10 during the European session.
In Japan, the Japanese Yen initially experienced an increase during the morning hours, driven by speculation of another potential government intervention, marking the second such occurrence this week. However, it later surrendered its gains following the release of insights from Bank of Japan Minutes from the March meeting. According to Reuters, a member stated that the economy's reaction to a short-term rate increase to around 0.1% is anticipated to be minimal.
Source: News Formal (newsformal.com)
Crosses Macroeconomics Japan Eurozone
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