Euro Edges Down Ahead of Crucial Eurozone Inflation Data

The Euro (EUR) is trading at around 185.50 against the Japanese Yen (JPY) ahead of the Eurozone Harmonized Index of Consumer Prices (HICP) data for August.

According to HICP figures from Germany, France, and Spain, inflationary pressures accelerated in August.

The Eurostat is expected to show that the headline HICP growth remained stronger at 3.3% Year-on-Year (YoY) against 2.9% in July, with core HICP growing at a steady pace of 2.5% YoY.

This data will likely have a significant impact on European Central Bank (ECB) interest rate expectations, with market experts seeing the ECB raising interest rates this month.