Investing.com - The euro tumbled to hit a 10-day low against the yen on Tuesday, as markets remained focused on the prospect of further monetary easing by the Federal Reserve ahead of the release of minutes from the Fed’s last policy meeting.
EUR/JPY hit 112.84 during European afternoon trade, the pair’s lowest since September 28; the pair subsequently consolidated at 113.13, shedding 0.62%.
The pair was likely to find support at 112.27, the low of September 24 and resistance at 114.72, Monday’s high.
In their September rate statement, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.34% to hit 1.3828.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee.
EUR/JPY hit 112.84 during European afternoon trade, the pair’s lowest since September 28; the pair subsequently consolidated at 113.13, shedding 0.62%.
The pair was likely to find support at 112.27, the low of September 24 and resistance at 114.72, Monday’s high.
In their September rate statement, Fed policy makers expressed concern over continuing low levels of inflation and high unemployment, triggering speculation that the bank would begin a fresh round of monetary easing to stimulate the U.S. economy.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.34% to hit 1.3828.
Later in the day, the Fed was to publish the minutes of its September 21 meeting of the Federal Open Market Committee.