The EUR/JPY cross trades on a positive note near 172.40 during the early European session on Monday, bolstered by improved risk sentiment. However, hawkish remarks from the Bank of Japan (BoJ) Governor Kazuo Ueda might lift the Japanese Yen (JPY) and cap the upside for the cross.
EUR/JPY remains steady after two days of losses, hovering around 171.70 during the Asian trading hours on Thursday. The currency cross moves little as traders adopt caution ahead of HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.
The EUR/JPY pair is holding steady around 171.75 in Monday’s session, with a slightly weaker Euro (EUR) against the Japanese Yen (JPY) reflecting a cautious market mood as attention shifts to geopolitics.