The EUR/JPY pair remains unchanged near 158.50 after the announcement of the European Central Bank (ECB) monetary policy. ECB President Christine Laga
EUR/JPY juggles around 158.50 as the ECB kept its refinancing operations rate unchanged at 4.5%. The ECB was expected to maintain a status quo as inflation in Eurozone is consistently easing. Investors doubt that the sharp spike in early Europe was BoJ’s intervention. rde announced that policymakers decided to keep the rate of refinancing operations unchanged at 4.5%. The ECB has also kept the rate on deposit facility steady at 4%.
Deepening Middle East tensions amid conflicts between Israel and Palestine are expected to disrupt the oil supply chain, which will raise energy prices in the shared continent. This could elevate headline inflation expectations. On the Japanese Yen front, investors expect that a spike move in the EUR/JPY pair in the early London session was the stealth intervention in the FX domain.
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