EUR/JPY climbs near 172.00 as ECB signals pause in easing policies
- EUR/JPY climbs as the Euro gains support after the European Central Bank signaled a pause in monetary easing.
- US Secretary of State Rubio spoke to European officials to push forward diplomatic efforts to end the war in Ukraine.
- A poll indicated a 20% rise in support for Japanese Prime Minister Ishiba despite losing in July's election.
EUR/JPY gains ground after registering losses in the previous session, trading around 171.90 during the Asian hours on Tuesday. The currency cross appreciates as the Euro (EUR) receives support against its peers, which could be attributed to the European Central Bank (ECB) signaling a pause in monetary easing.
The market sentiment favors the Euro following US Secretary of State Marco Rubio's talks with his European counterparts on Monday to advance diplomatic efforts aimed at ending the war in Ukraine. Ukrainian Foreign Minister Andrii Sybiha expressed gratitude to Rubio for his initiatives and to US President Donald Trump for his "peacemaking leadership," stressing that security guarantees for Ukraine remain essential, per Reuters.
The upside of the EUR/JPY cross could be restrained as the Japanese Yen (JPY) could gain ground amid increasing political stability in Japan. Reuters cited a Yomiuri newspaper public opinion poll on Monday, which indicated a 20% rise in support for Japanese Prime Minister Shigeru Ishiba despite his ruling coalition losing its majority in July's parliamentary election. Support for Ishiba’s cabinet rose to 39%, marking a 17% jump from last month’s post–upper house election survey.
Japanese Finance Minister Katsunobu Kato said on Tuesday he was “alarmed” by recent FX moves, particularly those driven by speculators, stressing the importance of currencies moving stably in line with fundamentals. Kato added that the government will closely monitor JGB market developments and pursue appropriate debt management.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.09% | -0.02% | -0.10% | -0.03% | 0.02% | 0.15% | 0.07% | |
| EUR | 0.09% | 0.13% | 0.09% | 0.07% | 0.16% | 0.47% | 0.19% | |
| GBP | 0.02% | -0.13% | -0.02% | -0.04% | 0.08% | 0.34% | 0.05% | |
| JPY | 0.10% | -0.09% | 0.02% | -0.00% | -0.01% | 0.40% | -0.04% | |
| CAD | 0.03% | -0.07% | 0.04% | 0.00% | 0.06% | 0.38% | -0.05% | |
| AUD | -0.02% | -0.16% | -0.08% | 0.00% | -0.06% | 0.12% | -0.10% | |
| NZD | -0.15% | -0.47% | -0.34% | -0.40% | -0.38% | -0.12% | -0.28% | |
| CHF | -0.07% | -0.19% | -0.05% | 0.04% | 0.05% | 0.10% | 0.28% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Akhtar Faruqui
FXStreet
Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.
