Euro drifts away from 184.00 Yen despite strong German inflation data
The Euro weakened against the Japanese Yen, retreating from the 184.00 level, as a mild risk-off mood overshadowed hot German inflation figures.
EURJPY
The EUR/JPY pair pulled back from the 184.00 handle on Wednesday, surrendering earlier gains as a cautious market sentiment took hold. Escalating geopolitical tensions in the Middle East dampened risk appetite, benefiting the safe-haven Japanese Yen.
The move came despite Germany reporting higher-than-anticipated inflation figures, which would typically support the euro by reinforcing hawkish ECB expectations. However, the risk-off environment overshadowed the positive data, pushing the cross lower.
Source: FXStreet Forex News