EUR/JPY plummets below 142.00 as BOJ chatters push back ECB hawks – by anilpanchal7 EURJPY ECB BOJ CentralBanks Crosses
policymakers as talks of the Bank of Japan’s exit from the easy money policy gain momentum.raised its economic assessment for four of the country's nine regions in a quarterly report. In doing so, the Japanese central bank maintained its assessment of the remaining five regions. "Many regions saw their economies pick up, or pick up moderately," the BOJ said in the quarterly report.
Given the firmer economic assessments, calls for the BOJ’s push for restrictive monetary policy, after tweaking the Yield Curve Control in the last meeting, gain major attention and favor the EUR/JPY bears. Earlier in Asia, Japanese media Yomiuri stated that the BOJ will review the side effects of its massive monetary easing at its policy meetings next week.
On the other hand, ECB policymaker Robert Holzmann stated that rates will have to rise significantly further to reach levels that are sufficiently restrictive to ensure a timely return of inflation to target. On the same line, the ECB Governing Council member and French central bank governor Francois Villeroy de Galhau said, “ECB should aim to reach the terminal rate by the summer.
Amid these plays, the yields remain downbeat but the stock futures are cautiously optimistic as traders await this week’s key catalyst, namely the US ConsumerA clear downside break of the one-week-old ascending trend line, now resistance around 142.35, directs EUR/JPY towards the 200-DMA level surrounding 140.70.
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