EUR/JPY TRADES NEAR 160.40 AFTER RECOVERING DAILY LOSSES.
EUR/JPY TRADES NEAR 160.40 AFTER RECOVERING DAILY LOSSES.
The EUR/JPY currency pair has rebounded from earlier losses, trading around 160.40 during the Asian session on Wednesday.
This recovery follows a decline driven by a strengthening Japanese Yen ahead of key financial discussions.
The Yen's appreciation is attributed to hawkish comments from Bank of Japan (BOJ) officials regarding potential interest rate hikes.
BOJ Board Member Tamura Naoki suggested that the central bank may raise rates to at least 1% by the second half of Japan’s fiscal year,
Market participants are closely monitoring the forthcoming meeting among Japan's Ministry of Finance (MOF), Financial Services Agency (FSA), and the BOJ.
The discussions are expected to focus on developments in international financial markets, which could influence future monetary policies and currency valuations.
