The Euro (EUR) trades on the back foot against the Japanese Yen (JPY) on Monday, as the Yen strengthens broadly amid near-certain expectations that the Bank of Japan (BoJ) will raise interest rates at its December 19 policy meeting.
The GBP/JPY pair is down 0.5% around 207.30 during the European trading session. The pair faces intense selling pressure as the Japanese Yen (JPY) outperforms across the board, following the release of the Japan’s Tankan Q4 business sentiment data.
The Canadian Dollar (CAD) remains bid against the US Dollar (USD) on Friday, even as the Greenback stages a modest rebound, while markets continue to digest this week’s monetary policy decisions from the Bank of Canada (BoC) and the Federal Reserve (Fed).