EUR/JPY holds gains near 176.50 due to weakening safe-haven demand

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EUR/JPY recovers its losses registered in the previous session, trading around 176.50 during the Asian hours on Monday. The currency cross appreciates as the Japanese Yen (JPY) struggles amid dampening safe-haven demand, driven by easing US-China trade tensions.

EUR/JPY gains ground as safe-haven demand dampens on easing US-China trade concerns.
President Trump stated on Sunday that China’s economy “will be fine” and aims to “help China, not hurt it.”
The Euro appreciates as France’s political tensions ease and President Macron prepares to appoint a new prime minister.

President Trump posted on Truth Social on Sunday, noting that China’s economy “will be fine” and that the US wants to “help China, not hurt it.” On Sunday, Trump said that there’s no need to meet China’s President Xi Jinping at the upcoming South Korea summit and threatened to impose 100% tariffs on Chinese imports. China also responded by warning to retaliate if Trump fails to back down on his threat to impose 100% tariffs on Chinese imports.

The Japanese Yen (JPY) could come under pressure as Japan’s incoming Prime Minister, Sanae Takaichi, is expected to pursue higher fiscal spending while maintaining a loose monetary policy. The political concerns increase as Japan’s Komeito party announced on Friday that it is leaving the ruling coalition, delivering a setback to Takaichi’s bid for the premiership and potentially weakening the Liberal Democratic Party’s hold on power in the world’s fourth-largest economy.

The EUR/JPY cross appreciates as the Euro (EUR) receives support from easing political tensions in France, where President Emmanuel Macron is set to appoint a new prime minister after Sebastien Lecornu’s resignation. Investors’ sentiment improved as Lecornu indicated that dissolving parliament and thus holding snap elections was unlikely.

The European Central Bank’s (ECB) September meeting accounts showed that policymakers broadly agreed the current policy stance remains consistent with the 2% medium-term inflation target. ECB members concurred that current interest rates are sufficiently strong to handle potential shocks amid two-sided inflation risks.

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		0.00%	-0.02%	-0.05%	-0.01%	-0.21%	0.08%	0.01%
EUR	-0.01%		-0.03%	0.00%	-0.03%	-0.13%	0.07%	-0.01%
GBP	0.02%	0.03%		0.06%	0.00%	-0.11%	0.10%	0.00%
JPY	0.05%	0.00%	-0.06%		-0.04%	-0.21%	0.15%	0.00%
CAD	0.01%	0.03%	-0.00%	0.04%		-0.23%	0.11%	-0.00%
AUD	0.21%	0.13%	0.11%	0.21%	0.23%		0.22%	0.11%
NZD	-0.08%	-0.07%	-0.10%	-0.15%	-0.11%	-0.22%		-0.11%
CHF	-0.01%	0.01%	0.00%	-0.00%	0.00%	-0.11%	0.11%

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).

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