The EUR/JPY cross gains momentum around 160.00 during the early European session on Friday.
EUR/JPY recovers to near 160.00 in Friday’s early European session, gaining 0.45% on the day. BoJ’s Ueda said central bank will keep adjusting the degree of easing if our economic, price outlooks are to be realised. Investors await the ECB’s Lagarde speech for fresh impetus. The Bank of Japan decided to keep its policy rate unchanged, as widely expected. However, the uncertain outlook of the BoJ monetary policy is likely to cap the upside of the Japanese Yen for the time being.
Any dovish remarks from Lagarde could weigh on the shared currencyin the near term, while the hawkish tone might lift the EUR. Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.
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