EUR/JPY TRADES WITH POSITIVE BIAS ABOVE 162.00; LACKS FOLLOW-THROUGH AHEAD OF ECB
EUR/JPY TRADES WITH POSITIVE BIAS ABOVE 162.00; LACKS FOLLOW-THROUGH AHEAD OF ECB
EUR/JPY Holds Above 162.00 Amid ECB Rate Cut Expectations
The EUR/JPY currency pair maintains a positive bias, trading above the 162.00 mark during Thursday's Asian session.
This movement is influenced by market expectations that the European Central Bank (ECB) will implement a 25 basis point rate cut later today.
If realized, this would mark the first consecutive rate reduction in 13 years, reflecting the ECB's efforts to address easing inflationary pressures and signs of economic weakness in the Eurozone .
Japanese Yen's Safe-Haven Demand Caps Upside
the Bank of Japan (BoJ) faces challenges in exiting its ultra-easy monetary policy, with Prime Minister Shigeru Ishiba opposing further rate hikes, which complicates the outlook for the JPY .
Traders are closely monitoring the ECB's upcoming interest rate decision and any forward guidance provided by ECB President Christine Lagarde.
The central bank's actions and statements will be pivotal in shaping market expectations for the Euro's performance and the future trajectory of the EUR/JPY cross.
