Euro Hits 12-Week High Against Yen Amid ECB-BOJ Policy Divergence

The euro is trading near its strongest level in 12 weeks against the Japanese yen, even as fresh data showed the Eurozone services sector expanding at its fastest pace in months.

The EUR/JPY pair remains elevated, reflecting a persistent divergence between the European Central Bank's tightening stance and the Bank of Japan's ultra-loose monetary policy.

While the Eurozone Composite Purchasing Managers' Index for February came in above expectations, driven by a robust services sector, the single currency has struggled to push decisively beyond the 12-week resistance level against the yen.