EUR Gains Against JPY Amid Expectations of BoJ Rate Hike

The Euro (EUR) advanced against the Japanese Yen (JPY) on Monday despite expectations of a Bank of Japan (BoJ) rate hike this week. Markets anticipate another increase in December, with some analysts predicting a 25-basis-point (bps) rate hike.

Investors are bracing for a major monetary policy decision from the BoJ on Friday. A more hawkish message from Governor Kazuo Ueda could support the Japanese Yen and limit the upside in EUR/JPY.

The European Central Bank (ECB) remains cautious about its rate path, while ECB member Peter Kazimir expressed concerns over energy prices.