The EUR/JPY pair holds the psychological figure of 170.00 in Monday’s European session.
EUR/JPY holds strength above 170.00 as investors doubt subsequent rate cuts by the ECB . ECB policymakers remain comfortable with rate-cut expectations for June. Investors doubt that the BoJ will tighten policy further in the near term. The cross remains firm as investors worry about how the European Central Bank will approach rate cuts beyond the June meeting. The ECB is widely anticipated to start reducing interest rates from the June meeting.
She agreed that there is a noticeable decline in price pressures but some elements such as domestic and service inflation are still persistent. On the Tokyo front, the Japanese Yen remains downbeat as investors doubt that the Bank of Japan have more room for further policy tightening. Last week, Japan’s National Consumer Price Index report showed that inflation declined for the second straight month.
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