Euro Surges Past 180.85 vs JPY Amid Ueda's Hawkish Comments

The Euro has strengthened against the Japanese Yen, nearing the 181.00 mark despite Bank of Japan Governor Ueda's hawkish comments.

Ueda stated that Japan's economy is recovering moderately and will maintain its growth pace in the near term, but warned about the impact of the Middle East conflict on price pressures and economic activity.

The BoJ raised interest rates to 1.25%, their highest level in 31 years, with three committee members opposing the decision.

Analysts at Deutsche Bank pointed out that the BoJ delivered a 'more dovish hike than expected,' suggesting less political support for rate hikes.