The EUR/JPY cross posts modest gains after bouncing off the previous day’s low of 158.53 during the early European session on Wednesday. The cross cur
EUR/JPY hovers around 158.80 ahead of the key events from both the Eurozone and Japan. Eurozone economic data on Tuesday revealed a contraction in PMI and lower inflation in October. Japan's government is considering spending approximately $33 billion on handouts to low-income households. The European Central Bank rate decision and Japanese inflation data will be in the spotlight this week. rently trades around 158.80, gaining 0.03% for the day.
On the JPY’s front, Japan's government is considering spending approximately $33 billion on handouts to low-income households and an income tax cut in a package of steps to help people from growing rising expenses, per Reuters. Investors await Japan’s Tokyo Consumer Price Index for October for fresh impetus. Apart from this, the economic data released on Tuesday revealed that the Japanese Jibun Bank Manufacturing PMI for October eased to 48.5 versus 48.
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