EUR/JPY tests long-term highs at 182.60 amid generalised Yen weakness
The Yen remains the worst-performing currency of the G8 majors this week. EUR/JPY downside attempts have been contained above a previous high, at the 182.00 area earlier on Wednesday, and the pair reversed previous losses to retest its highest levels in more than 30 years at 182.60. 
  • EUR/JPY bounces up to retest 182.60, its highest level in more than 30 years.
  • Japan's gloomy economic outlook and fiscal concerns are crushing the Yen this week.
  • In the Eurozone, positive macroeconomic data have endorsed the ECB's hawkish stance.


The Yen remains the worst-performing currency of the G8 majors this week. EUR/JPY downside attempts have been contained above a previous high, at the 182.00 area earlier on Wednesday, and the pair reversed previous losses to retest its highest levels in more than 30 years at 182.60. 

The Japanese Yen remains under pressure on Wednesday, crushed by a gloomy economic outlook, following the sharp decline of the Gross Domestic Product (GDP) seen on Monday, and increasing fiscal concerns following the USD 137 million spending package approved by Prime Minister Sanae Takaichi’s cabinet in November.

The Bank of Japan is expected to hike rates by 25 basis points to 0.75% next week, but the path forward is cloudy. BoJ governour Ueda affirmed last week that he is unsure how far interest rates will rise in 2026, and 0.75% is still a low level, especially if most major central banks start hinting at interest rate hikes.

In the Eurozone, macroeconomic data have been relatively positive this week. German Industrial Production rose beyond expectations, and its trade balance widened as exports grew unexpectedly. Apart from that, the Eurozone Sentix Investors' Confidence Index edged up, although it remains at negative levels.

The European Central Bank (ECB) meets next week and is widely expected to leave its monetary policy unchanged. Earlier in the week, ECB Board member Isabel Schnabel affirmed that the next move is likely to be a rate hike, which provided additional support to the Euro.

Japanese Yen Price This week

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.05% 0.15% 1.00% 0.18% -0.12% -0.17% 0.08%
EUR -0.05% 0.13% 0.99% 0.18% -0.12% -0.17% 0.08%
GBP -0.15% -0.13% 0.88% 0.04% -0.25% -0.31% -0.06%
JPY -1.00% -0.99% -0.88% -0.81% -1.10% -1.15% -0.89%
CAD -0.18% -0.18% -0.04% 0.81% -0.29% -0.35% -0.09%
AUD 0.12% 0.12% 0.25% 1.10% 0.29% -0.06% 0.20%
NZD 0.17% 0.17% 0.31% 1.15% 0.35% 0.06% 0.26%
CHF -0.08% -0.08% 0.06% 0.89% 0.09% -0.20% -0.26%

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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

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