Euro flat lines above 180.00 vs weak Yen as German political turmoil offsets upbeat PMIs
The EUR/JPY cross seesaws between tepid gains/minor losses through the first half of the European session on Wednesday and moves little following the release of flash Eurozone PMIs.
The EUR/JPY exchange rate remains stagnant near the 180.00 level as German political turmoil dampens enthusiasm for the Euro. Despite positive Eurozone flash Purchasing Managers' Index (PMI) data, the Euro struggles to gain traction due to Germany's political instability. German Chancellor Friedrich Merz's CDU, which is currently below the 5% threshold, may face mid-term replacement in a potential chancellor swap, further destabilizing the currency.
In contrast, the Japanese Yen continues to underperform due to the Bank of Japan's dovish rate hike to a 31-year high, limiting the EUR/JPY pair's downside.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Euro remains muted after mixed German flash PMI data fxstreet.com
