The EUR/JPY rises to 164.50 in Wednesday’s early American session.
EUR/JPY jumps to 164.50 amid uncertainty over BoJ’s holding the exit to negative interest rates. BoJ Ueda pledges to keep monetary policy accommodative for some time. ECB Lagarde is confident of gaining evidence that inflation will return to the 2% target. The EUR/JPY risesto 164.50 in Wednesday’s early American session.
” This indicates that the wage growth is getting consistent with the pace required to bring down inflation to the 2% target. Slowing wage growth would deepen expectations for the ECB to begin reducing interest rates from the June policy meeting. Apart from that, Lagarde’s confidence that the central bank will get evidence of inflation easing to 2% has increased speculation for interest rates reducing from June.
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