Forex
Home›Forex›Major Pairs›EUR/JPY extends rally above 185.00 after BoJ keeps rat…
EUR/JPY extends rally above 185.00 after BoJ keeps rates steady
The euro rose to about 185.20 per yen after Japan’s central bank held its 1.0% rate, despite a dissent from one member who backed a 0.25 point hike.
The euro extended its intraday rise to near 185.20 against the Japanese yen after the Bank of Japan kept interest rates steady during Friday’s Asian session, according to FXStreet.
Japan’s central bank held the policy rate at 1.0% with an 8 to 1 vote, but one member, Hajime Takata, dissented and argued for a 25 basis point hike to 1.25%.
The BoJ also warned that medium to long term inflation expectations are set to increase, and reiterated that its monetary policy path remains tilted higher, reinforcing expectations for further rate increases.
On the European side, investors are set to look to preliminary July HICP data at 09:00 GMT, after Germany and Spain showed faster than expected inflation earlier in the week, which could influence expectations for additional ECB rate moves.