The EUR/JPY cross attracts some dip-buying during the Asian session on Friday and reverses a part of the previous day's retracement slide from over a one-week high – levels beyond the 170.00 mark.
EUR/JPY builds on its intraday positive move after the BoJ manintains the staus quo. The BoJ left interest rates unchanged and also decided not to reduce bond purchases. Political uncertainty in Europe could undermine the Euro and cap gains for the cross. The EUR/JPY cross attracts some dip-buying during the Asian session on Friday and reverses a part of the previous day's retracement slide from over a one-week high – levels beyond the 170.00 mark.
This, along with a generally positive risk tone, undermines the safe-haven Japanese Yen and provides a goodish lift to the EUR/JPY cross. Meanwhile, a snap election call in France has sparked wider political concerns in the Eurozone. This might continue to act as a headwind for the shared currency and keep a lid on any meaningful appreciating move for the EUR/JPY cross.
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