Euro Rebounds Against Yen Amid Fears of Joint Intervention

The Euro has rebounded against the Japanese Yen after hitting its year-to-date low at 177.35, but remains 0.14% down to around 178.13 during the European trading session on Wednesday.

Analysts point out that recent media reports suggest US President Trump voiced concern over yen weakness when meeting Japanese policymakers, reinforcing expectations of joint intervention by the US and Japan to support the currency against excessive volatility.

Japanese Finance Minister Satsuki Katayama agreed with US Treasury Secretary Scott Bessent to beef up cooperation during phone talks on September 25, stating that an undervalued yen is problematic.

Later in the day, investors will focus on the German preliminary Harmonized Index of Consumer Prices (HICP) data for September, which is expected to show price pressures accelerated to 3.1% Year-on-Year from the final reading of 2.9% in August.