EUR/JPY falls as investors fear the outcome of snap French legislative elections. The risk looms large of the far-right winning after their success in the European elections. The Yen finds support after the BoJ signals plan to end quantitative easing. The EUR/JPY is trading down over a third of a percent in the 167s on Friday, as French-election jitters weigh on the Euro whilst the Japanese Yen gains support from the prospect of the Bank of Japan winding down its quantitative easing programme.
1% range, Boj Governor Kazuo Ueda said that the bank was preparing a plan to reduce Japanese Government Bond purchases over the next one to two years, which it would present details of at its meeting in July. The BoJ is the last remaining major central bank to still engage in buying government bonds, a form of QE used to provide liquidity to banks and inflate the economy – with negative effects on the currency.
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Source: FXStreetNews - 🏆 14. / 72 Read more »