The EUR/JPY cross extends the decline near 168.85 during the early European session on Monday.
EUR/JPY trades in negative territory for three straight days in Monday’s early European session, down 0.28% on the day. France’s President Macron announced the snap election after a crushing loss to French far right in EU vote. Japan’sGross Domestic Product shrank by 0.5% QoQ in Q1, in line with the consensus. The Euro attracts some sellers amid the uncertainty over the political scenario in France.
5% QoQ in the first quarter compared to the previous reading and the consensus of -0.5%. Meanwhile, the GDP Annualized contracted by 1.8% in Q1, compared to a previous contraction of 2.0%, better than the estimation of -1.9%. Apart from this, Japan’s 10-year government bond yield edges higher to 1.029% ahead of the Bank of Japan’s monetary policy meeting on Friday.
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