At the time of writing EUR/JPY is trading lower on Monday and is around 183.80. The move reflects new strength in the Japanese Yen (JPY), supported by the latest signals from the Bank of Japan (BOJ), while the Euro (EUR) tries to hold its ground amid a more stable approach to monetary policy in the euro zone.
The Japanese currency benefited from the release of the Bank of Japan’s summary of opinions from its December monetary policy meeting. Policymakers discussed the need to keep policy tight even after the rate hike in December. The Bank of Japan raised its policy rate to 0.75% from 0.50%, the highest level in decades, and many members believe the rates are too low for inflation. Some also said that the weak Japanese yen and rising long-term yields are partly due to the overly accommodative stance, which strengthens expectations of further rate hikes in 2026 and lends support to the JPY.
On the European side, the picture is more mixed. The European Central Bank (ECB) kept interest rates unchanged earlier this month and indicated they were likely to remain stable for some time. ECB President Christine Lagarde has emphasized that the central bank cannot provide clear guidance given the high level of uncertainty, favoring a data-dependent, meeting-by-meeting approach.
Currency markets are now pricing in a less than 10% chance of a 25-basis-point rate cut by the European Central Bank in February. The perception that the current easing cycle is nearing its end helps limit downside pressure on the euro.
Overall, the Bank of Japan’s more aggressive tone is putting pressure on the EUR/JPY cross, while expectations of policy stability at the European Central Bank act as a near-term balancing factor.
Japanese yen price today
The table below shows the percentage change of the Japanese Yen (JPY) against the major currencies listed today. The Japanese yen was the strongest against the New Zealand dollar.
| USD | EUR | gbp | JPY | scurvy | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | 0.09% | -0.19% | 0.14% | 0.32% | 0.58% | 0.12% | |
| EUR | -0.02% | 0.07% | -0.20% | 0.12% | 0.30% | 0.58% | 0.11% | |
| gbp | -0.09% | -0.07% | -0.25% | 0.05% | 0.23% | 0.50% | 0.03% | |
| JPY | 0.19% | 0.20% | 0.25% | 0.30% | 0.51% | 0.75% | 0.26% | |
| scurvy | -0.14% | -0.12% | -0.05% | -0.30% | 0.19% | 0.44% | -0.01% | |
| AUD | -0.32% | -0.30% | -0.23% | -0.51% | -0.19% | 0.25% | -0.19% | |
| NZD | -0.58% | -0.58% | -0.50% | -0.75% | -0.44% | -0.25% | -0.45% | |
| CHF | -0.12% | -0.11% | -0.03% | -0.26% | 0.01% | 0.19% | 0.45% |
The heat map shows the percentage change of major currencies against each other. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you select Japanese Yen from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
