Traders sell the EUR/JPY cross near 185.75 after it hits a one-month high amid Bank of Japan intervention risks and ECB policy speculation.
The euro retreated from a one-month high against the yen, dropping to the 185.75-185.70 range during early European trading. Selling pressure emerged as traders weighed potential Japanese yen intervention and Bank of Japan policy shifts.
Earlier, the EUR/JPY cross reached its highest level in a month before profit-taking set in. Market participants remain cautious ahead of the European Central Bank’s upcoming policy decision, which could influence the pair’s direction.
No immediate market reaction was specified, but sentiment reflects broader uncertainty over central bank actions and currency stability.