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EUR/JPY remains calm amid mixed Eurozone Retail Sales, trades around 164.10

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EURJPY News

Crosses,Macroeconomics,Japan

EUR/JPY has recovered its intraday losses to move into positive territory, inching higher to near 164.10 during the European trading hours on Friday.

EUR/JPY moves in the positive direction after recovering losses on Friday. Eurozone Retail Sales contracted by 0.7% in February, a lower-than-expected decline of 1.3%. The Japanese Yen enjoyed a safe-haven status amid escalated tensions in the Middle East.

Bank of Japan Governor Kazuo Ueda indicated on Friday that the central bank might adjust monetary policy if foreign exchange fluctuations significantly impact the wage-inflation cycle in a manner that cannot be ignored. Japan's Finance Minister Shunichi Suzuki echoed this sentiment, emphasizing his close monitoring of currency movements with a strong sense of urgency. He expressed readiness to explore all available options to address excessive volatility in the foreign exchange market.

 

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