The post EUR/JPY surges to near 164.50 following BoJ Summary of Opinions appeared on BitcoinEthereumNews.com.

EUR/JPY strengthened as the BoJ’s Summary of Opinions highlighted divisions among policymakers over the timing of future interest rate hikes. Japanese Prime Minister Shigeru Ishiba faces a parliamentary leadership vote today, following the loss of ruling LDP lower house majority. Deutsche Bank analysts have warned that higher US tariffs could negatively affect the Eurozone’s export sector. EUR/JPY rises to near 164.50 during the Asian trading session on Monday, driven by a weakening Japanese Yen (JPY). This movement follows the release of the Bank of Japan’s (BoJ) October Summary of Opinions, which highlighted divisions among policymakers regarding the timing of future interest rate hikes. Some BoJ members raised concerns about global economic uncertainties and the increasing market volatility, particularly in relation to the JPY’s depreciation. Nevertheless, the central bank has indicated that it may raise its benchmark policy rate to 1% by the latter half of the 2025 fiscal year. Meanwhile, Japanese Prime Minister Shigeru Ishiba faces a parliamentary leadership vote today, after the ruling Liberal Democratic Party (LDP) lost its lower house majority, which it had held since 2012. Ishiba may now seek to form a new government with support from minor parties, according to The Associated Press. In Germany, Chancellor Olaf Scholz appointed a new finance minister following the dismissal of the previous one, a move that effectively dissolves the ruling coalition. This decision has sparked calls from opposition parties and business leaders for new elections to restore stability amid the growing political uncertainty. Analysts at Deutsche Bank have warned that higher tariffs from the US could put pressure on the Eurozone’s export sector, potentially affecting economic growth and the Euro. They highlighted the high level of uncertainty surrounding various factors, including the precise impact of the US tariffs, the timing of their implementation, and how Europe will respond.…

---

Filed under: News - @ November 11, 2024 6:17 am