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EUR/JPY trades higher as BoJ hike now priced in, Eurozone data upbeat

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EUR/JPY is trading higher, up seven hundredths of the percent on Monday after the release of relatively upbeat Eurozone figures showed the region recording a trade surplus in January, and the final revisions of February inflation data matching flash estimates.

EUR/JPY trades higher at start of week as widely telegraphed BoJ price hike priced in. Eurozone data shows trade surplus in January and final estimates of inflation matching flash. Japanese Yen hampered by fears BoJ interest rate hike may be a “one and done” affair.

Deflation remains a hard nut to crack in Japan and although a recent round of wage negotiations has resulted in higher pay for workers, price gains have been hard won and some skepticism remains as to the longer-term inflation outlook, according to Bloomberg News. It may also be the case that stubbornly high inflation in the euro area is adjusting the outlook for interest rates there which is supporting the Euro .

 

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EUR/JPY Price Analysis: Bears hold short-term dominance, long-term bullish outlook persistsIn Monday's session, the EUR/JPY pair is trading at 160.57, showing a daily decrease of 0.19%.
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