Neutral
EUR/JPY stabilizes above 179.00 after ECB's rate hike to 2.50%
The European Central Bank (ECB) raised its deposit rate by 25 basis points to 2.50%, its second hike this year, leading EUR/JPY to rise above 179.00. ECB President Christine Lagarde termed the move a 'no-brainer,' and markets are now anticipating further hikes, which has steadied the Euro against the Yen.
Key points
- EUR/JPY rises above 179.00 following ECB's rate hike to 2.50%.
- ECB President Lagarde describes the rate increase as a 'no-brainer.'
- Markets expect additional ECB rate hikes, supporting the Euro.
Sources
AI-generated from public news sources. Not financial advice.
