Euro Softens Against Yen on Intervention Watch
The EUR/JPY cross traded lower near 184.85 in early European trade on Tuesday as traders remained alert for possible Japanese intervention to support the yen.
EURJPY
The euro weakened against the Japanese yen during early European hours on Tuesday, with the EUR/JPY cross slipping to around 184.85.
Market participants are on edge over the possibility of Japanese authorities stepping in to bolster the yen, which has been under persistent pressure. The threat of intervention has kept yen bears cautious, lending support to the currency against the euro.
No official confirmation of intervention has been made, but traders are monitoring verbal warnings and any signs of sudden yen strengthening.
Source: FXStreet Forex News