The Zhitong Finance App learned that the EUR/JPY bears are eyeing a fall below the 175 mark, and the safe-haven attribute of the yen has been reactivated. The analysis points out that France's fiscal and social pressure is putting continuous pressure on the euro, thus increasing the reason to be bullish on the yen; however, short-term uncertainty surrounding the Fed's policy and the US midterm elections has overshadowed this outlook. The missing piece is that the Bank of Japan turned hawkish at the October 30 meeting. Currently, the EUR/JPY exchange rate is fluctuating around 176.
Zhitongcaijing · 3d ago
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The Zhitong Finance App learned that the EUR/JPY bears are eyeing a fall below the 175 mark, and the safe-haven attribute of the yen has been reactivated. The analysis points out that France's fiscal and social pressure is putting continuous pressure on the euro, thus increasing the reason to be bullish on the yen; however, short-term uncertainty surrounding the Fed's policy and the US midterm elections has overshadowed this outlook. The missing piece is that the Bank of Japan turned hawkish at the October 30 meeting. Currently, the EUR/JPY exchange rate fluctuates around 176.
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