MUFG’s Lee Hardman notes the Japanese Yen is little changed after the BoJ’s widely anticipated 0.25% rate hike to 1.00%, with USD/JPY still trading just above 160.00. The BoJ also decided to pause its QE taper from FY2027, while continuing gradual JGB purchase reductions until then.
EUR/JPY depreciates after two days of gains, trading around 185.60 during the early European hours on Tuesday. The currency cross holds a mild bullish bias as it trades above the nine-day and 50-day Exponential Moving Averages (EMAs).
The Pound Sterling advances by 0.31% on Monday as risk appetite improves following an agreement reached by the US and Iran, which will be signed on June 19 in Geneva, Switzerland.