EUR/JPY retreats further from multi-year peak, drops to 155.00 on dismal Eurozone PMIs – by hareshmenghani EURJPY PMI Recession RiskAversion Currencies
the 157.00 neighbourhood touched the previous day. The intraday downward trajectory picks up pace during the early European session and drags spot prices to a fresh daily low, around the 155.00 psychological mark in the last hour.prints, which, in turn, is seen as a key factor behind the latest leg of a sudden drop for the EUR/JPY cross.
The Japanese central bank, however, recently reiterated that it has no plans to alter its ultra-loose policy. This marks a bid divergence in comparison to a more hawkish stance adopted by other major central banks, which might continue to undermine the JPY and help limit losses for the EUR/JPY cross. This, in turn, suggests that the ongoing corrective pullback is solely led by some long-unwinding heading into the weekend.
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