EUR/JPY steady near multi-year high as Eurozone Q3 GDP supports Euro
- EUR/JPY remains stable near 179.80 after hitting a multi-year high just under 180.00.
- The Japanese Yen stays under pressure, weighed by lingering uncertainty over the Bank of Japan’s tightening path.
- Eurozone Gross Domestic Product growth confirmed at 0.2% in Q3, supporting sentiment around the Euro.
EUR/JPY trades around 179.80 on Friday, virtually unchanged on the day after reaching a new multi-year high just below the 180.00 level. The Japanese Yen (JPY) remains on the back foot, pressured by uncertainty over the Bank of Japan’s (BoJ) tightening trajectory.
Recent comments from Japan’s Prime Minister Sanae Takaichi, who reiterated her preference for keeping interest rates low to support domestic economic activity, have increased doubts about a potential BoJ rate hike in December. These remarks come as other government officials highlight the risks tied to a weaker JPY. Economy Minister Minoru Kiuchi noted that excessive Japanese Yen weakness tends to push inflation higher through import costs, while Finance Minister Satsuki Katayama renewed her warning that she is monitoring currency moves with urgency.
This political backdrop maintains an ambiguous environment around the monetary policy, limiting the Japanese Yen’s ability to recover despite more constructive comments from BoJ Governor Kazuo Ueda, who said underlying inflation is gradually moving toward the central bank’s 2% target.
In Europe, the Euro benefits from rising confidence that the European Central Bank (ECB) has likely ended its rate-cutting cycle. Friday’s data reinforced this view as Employment rose by 0.1% QoQ in Q3, while Gross Domestic Product (GDP) for the Eurozone came in at 0.2% in the third quarter, matching expectations. On an annual basis, growth reached 1.4%, slightly above consensus. These figures support the perception of a resilient Eurozone economy.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.14% | 0.31% | 0.12% | 0.06% | 0.13% | -0.37% | -0.09% | |
| EUR | -0.14% | 0.16% | -0.04% | -0.08% | -0.01% | -0.51% | -0.23% | |
| GBP | -0.31% | -0.16% | -0.20% | -0.23% | -0.16% | -0.67% | -0.39% | |
| JPY | -0.12% | 0.04% | 0.20% | -0.03% | 0.02% | -0.49% | -0.19% | |
| CAD | -0.06% | 0.08% | 0.23% | 0.03% | 0.06% | -0.43% | -0.15% | |
| AUD | -0.13% | 0.01% | 0.16% | -0.02% | -0.06% | -0.50% | -0.22% | |
| NZD | 0.37% | 0.51% | 0.67% | 0.49% | 0.43% | 0.50% | 0.28% | |
| CHF | 0.09% | 0.23% | 0.39% | 0.19% | 0.15% | 0.22% | -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
Ghiles Guezout
FXStreet
Ghiles Guezout is a Market Analyst with a strong background in stock market investments, trading, and cryptocurrencies. He combines fundamental and technical analysis skills to identify market opportunities.
