- EUR/JPY is backed by less than 162.00 where the German Fredres Mirz was confirmed as a new consultant.
- German Mirz failed to secure an absolute majority in the first voting process in Bundestag.
- Trump’s introductory threats to pharmaceutical imports increased from the safe demand for JPY.
The EUR/JPY pair returns above 162.00 during the trading session in North America after attracting bids near 161.60, which is the lowest level of the day. The couple wores the conservative leader in Germany, Ferdrich Mirz, a divorced majority after obtaining 325 votes in Bundestag or the lower parliament in the second attempt.
Friedrich Mirz got 310 votes in the first attempt, as six out of 316 advisers were elected in Germany despite CDU/CSU and social democrats who collectively get 326 votes in Bundestag.
Friedrich Mirz’s confirmation as a consultant reduced concerns about political instability, and is expected to enhance defense spending measures approved in March.
However, the company’s expectations that the European Central Bank (ECB) will reduce interest rates at the June Policy meeting will limit the rise to the euro (EUR). The European Central Bank is expected to largely reduce interest rates by 25 basis points (BPS). This will be the seventh interest rate by the European Central Bank, respectively. The reason behind the fixed bets of the European Central Bank is a great conviction that the euro area inflation on the right path to return to the central bank’s 2 % goal by the end of the year.
Meanwhile, the Japanese yen (JPY) strongly performs the threats of the new tariffs from the President of the United States (United States), Donald Trump, has increased its safe request. Trump threatened to impose a tariff on drug imports, which will be announced within two weeks.
Japanese yen price today
The table below shows the percentage of Japanese yen change against the main currencies listed today. The Japanese yen was the strongest against the Swiss franc.
| US dollar | euro | GBP | JPY | CAD | Aud | Nzd | Chf | |
|---|---|---|---|---|---|---|---|---|
| US dollar | -0.22 % | -0.55 % | -59 % | -0.23 % | -0.14 % | -0.45 % | 0.22 % | |
| euro | 0.22 % | -0.34 % | -0.36 % | -02 % | 0.07 % | -0.23 % | 0.44 % | |
| GBP | 0.55 % | 0.34 % | -04 % | 0.32 % | 0.44 % | 0.11 % | 0.81 % | |
| JPY | 0.59 % | 0.36 % | 0.04 % | 0.35 % | 0.45 % | 0.22 % | 0.82 % | |
| CAD | 0.23 % | 0.02 % | -0.32 % | -0.35 % | 0.09 % | -0.22 % | 0.48 % | |
| Aud | 0.14 % | -07 % | -0.44 % | -0.45 % | -0.09 % | -0.31 % | 0.39 % | |
| Nzd | 0.45 % | 0.23 % | -11 % | -0.22 % | 0.22 % | 0.31 % | 0.69 % | |
| Chf | -0.22 % | -0.44 % | -0.81 % | -0.82 % | -0.48 % | -0.39 % | -69 % |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is chosen from the left column, while the quotation currency is chosen from the top row. For example, if you choose the Japanese yen from the left column and move along the horizontal line to the US dollar, the percentage offered in the box represents JPY (base)/USD (quotation).
On the local front, investors are awaiting the records of monetary policy meetings, which will be published on Wednesday.
