EUR/JPY clings to mild losses around the intraday low of 159.03 as it prints the first daily fall in four heading into Thursday’s European session. In
doing so, the cross-currency pair fails to justify the firmer Treasury bond yields amid fears of the Japanese intervention to defend the Yen, as well as chatters that Germany can continue weighing on the Eurozone’s economic optimism.
Additionally, mixed EU data also prod the EUR/JPY buyers amid looming concerns that the Japanese policymakers stand ready to intervene in the money markets to defend the Yen. On Wednesday, Eurozone Industrial Production for June marked an unexpected growth of 0.5% MoM versus -0.1% market forecasts and 0.0% previous readings. On the same line, the yearly Industrial Output figures improved to -1.2% YoY from -2.5% marked in May, versus -4.2% anticipated.
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