The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday, on speculations that high inflation revealed by Japan with the Tokyo CPI surprisi
EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction. Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen. ECB's decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY. ngly exceeding estimates, could motivate the Bank of Japan to normalize its monetary policy. That said, the EUR/JPY is trading at 158.06, down 0.48%.
During the Asian session, Core inflation in Tokyo, often considered a leading indicator of nationwide inflation in Japan, unexpectedly accelerated. This unexpected uptick in core inflation has led to speculation that the Bank of Japan may revise its inflation forecasts at the upcoming monetary policy meeting scheduled for the following week. Ahead of the week, the EU’s agenda would feature GDP data, inflation figures, employment data, and Flash PMIs.
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