EUR/JPY trades around 185.65 on Thursday at the time of writing, virtually unchanged on the day.
The Euro (EUR) benefits from encouraging German data, while the Japanese Yen (JPY) continues to struggle to attract sustained demand amid concerns over Japan’s fiscal position
Consumer confidence in Germany improves significantly for September. The GfK Consumer Confidence Index rises to -26.6 from -29.4 in August, compared with the market forecast of -29.6. The figures provide a more encouraging signal for the Eurozone’s largest economy and offer some support to the single currency.
Investors now turn their attention to the release of the European Central Bank’s (ECB) latest Monetary Policy Meeting Accounts later on Thursday. Traders will look for fresh clues about the future path of interest rates in the Eurozone. In Japan, the Japanese Yen remains under pressure due to concerns surrounding the country’s deteriorating public finances, as high levels of national debt and new spending plans fuel worries about Japan’s fiscal trajectory.