Euro struggles as yen strengthens due to disappointing eurozone data, potential rate hike by Bank of Japan.

From Investing.com: 2024-07-24 10:08:00

The US dollar weakens against the yen and Swiss franc but strengthens against other major currencies. The euro struggles against the dollar following disappointing eurozone PMI data, while the yen rallies as Japanese bond yields rise.

Eurozone’s economic recovery falters with July’s weak PMI data, indicating slowing growth momentum. Rising input costs pose inflationary challenges with France and Germany showing deteriorating conditions.

The Bank of Japan’s upcoming meeting attracts speculation about a possible rate hike, contrasting the euro’s struggle. The focus will shift to upcoming economic calendar data in the FX space.



Read more at Investing.com: EUR/JPY: Yen’s Resurgence Sparks Freefall – Where Could the Pair Bottom?