$EURJPY is aiming to jump above 157.80 as ECB is expected to tighten policy further
ssure around 157.80 a few times despite investors hoping that the European Central Bank is looking to raise interest rates further to tame stubborn inflation.is turning critical as the headline and core Consumer Price Index is showing wide deviation. A preliminary report for June has shown that the decline in the cost of gasoline prices is heavily weighing on the rising cost of services. Headline price pressures have softened to 5.5% in June vs. the prior release of 6.1%.
On the Japanese Yen front, signs Bank of Japan Deputy Governor Ryozo Himino said recent price rises were stronger than previously projected and inflation expectations were moving up, a sign the economy is getting closer to achieving the bank's 2% inflation target, as reported by Reuters. Himino further added that signs of cost-push inflation are easing and demand-driven inflation is taking some place. This could be the outcome of an expansionary interest rate policy and rising wages.
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