4/24, 4:15 PM (Source: TeleTrader)
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Euro hits 8-year high against yen

The euro reached on Monday its highest level against the Japanese yen since December 2014. The difference in monetary policy between the European Central Bank and the Bank of Japan seems to be affecting traders' overall sentiment.

While new BoJ Governor Kazuo Ueda continues to reaffirm the central bank's commitment to maintaining the longstanding loose policy course, policymakers from the Eurozone have been calling for more interest rate hikes to tame inflation in the region. Both central banks are expected to announce interest rate decisions over the next two weeks.

The euro area currency increased by 0.70% to ¥148.44 at 4:14 pm CET. The United States dollar rose by 0.37% to ¥134.657 a minute later.

Baha Breaking News (BBN) / MS