Home›Forex›Major Pairs›Euro trades near 10-month low versus Japanese yen ahea…

Euro trades near 10-month low versus Japanese yen ahead of HICP

EUR/JPY was around 177.6, close to a fresh 10-month low of 176.66 after stronger-than-expected Tokyo CPI lifted expectations for more BoJ rate hikes.

Reported · Written up by our desk · Major Pairs

The euro held steady against the Japanese yen in Asian trading on Friday, with EUR/JPY around 177.6, while the pair remained close to a fresh over 10-month low of 176.66 set the prior day, according to FXStreet.

FXStreet said the yen broadly outperformed on the day as Tokyo Consumer Price Index data for September came in stronger-than-expected, reinforcing expectations for additional interest rate hikes by the Bank of Japan.

The outlet pointed to Tokyo CPI ex. Fresh Food of 2.7% year-on-year versus 2.4% estimates, with the previous reading at 1.8%, and said the headline inflation accelerated to 2.7% from 1.9% in August.

More like this

Sources