Euro Holds Losses Against Yen as Eurozone Inflation Cools
EUR/JPY halts its four-day winning streak near 185.40 as the euro weakens following cooler Eurozone inflation data.
The EUR/JPY cross stalled its four-day advance on Wednesday, trading near 185.40 during European hours. The euro remained under pressure after Eurozone preliminary HICP data came in softer than expected, reinforcing expectations of further ECB easing.
Investors are now pricing in a higher probability of a rate cut at the next ECB meeting, weighing on the single currency against the yen. The Japanese yen found some support from risk-off sentiment and higher domestic bond yields.
No key economic releases are due from Japan later today, leaving the pair at the mercy of broader market sentiment and eurozone data revisions.
Source: FXStreet Forex News