XE Market Analysis: Europe – Apr 12, 2019

A strong bid for EUR-JPY was seen at and after the Tokyo fixing today, which drove the Euro generally higher while leading to Yen underperformance. Interbank market narratives pointed Japan’s Mitsubishi UFJ Financial Group’s purchase of aviation financing business of Germany’s DZ Bank as being behind the demand. EUR-JPY rose over 0.5% in making a three-week high at 126.33, while USD-JPY was pulled up by about 0.2%, to a four-week peak at 111.85.