EUR/JPY is trading near 183.50 on Monday at the time of writing, up 0.10% on the day, amid a backdrop of mixed macroeconomic signals from Europe and Japan.
On the Eurozone side, the latest inflation data confirm a gradual trend of reducing inflation. The consolidated index of consumer prices (HICP) was revised down to 1.9% year-on-year in December from 2.0% in the initial release, down from 2.1% in November, and came in below market expectations. Core inflation, measured by the core CPI, was confirmed at 2.3% year-on-year, after 2.4% in November, underscoring the slowdown in core price pressures.
This environment supports the ECB’s dovish stance. The institution has kept interest rates unchanged since ending its rate-cutting cycle in June 2025, and recently indicated that it is in no rush to adjust policy again. The Board continues to take a data-driven, meeting-by-meeting approach, without prior commitment to a specific price path. Inflation close to the ECB’s 2% target thus reinforces the policy status quo for a prolonged period, helping to stabilize the euro.
On the geopolitical front, trade tensions between the European Union and the United States add another layer of uncertainty. European leaders have warned that they are prepared to implement retaliatory measures if the new tariffs announced by US President Donald Trump take effect. European Union ambassadors agreed to intensify efforts to dissuade Washington while at the same time preparing countermeasures. German Finance Minister Lars Klingbeil said Europe would respond strongly to any new US tariffs and would not be blackmailed, a stance that could keep investors on edge and lead to sharp fluctuations in euro pairs.
In Japan, the Japanese yen remains under pressure amid increasing political uncertainty. Prime Minister Sanae Takaishi announced plans to dissolve parliament on January 23 and call early general elections on February 8, affecting the political and economic outlook. This uncertainty is undermining the Japanese yen, although some supportive factors remain in place.
Japanese Finance Minister Satsuki Katayama reiterated that all options, including direct and coordinated intervention with the United States, remain on the table to address the currency’s excessive weakness. In addition, a Reuters report indicates that some policymakers within the Bank of Japan see room to raise interest rates sooner than markets currently expect, perhaps as early as April, although the central bank is widely expected to keep interest rates unchanged at 0.75% this week.
Against this backdrop of declining inflation in the Eurozone, central bank caution, and political uncertainty in both Europe and Japan, EUR/JPY remains highly sensitive to risk sentiment and official rhetoric. The modest advance towards 183.50 currently reflects a slight advantage for the euro, while investors remain alert to political and monetary developments that could reignite volatility in the pair.
Euro price today
The table below shows the percentage change of the Euro (EUR) against the major currencies listed today. The euro was the strongest against the US dollar.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.22% | -0.21% | -0.09% | -0.21% | -0.25% | -0.50% | -0.52% | |
| euro | 0.22% | 0.00% | 0.11% | 0.00% | -0.03% | -0.29% | -0.31% | |
| GBP | 0.21% | -0.00% | 0.13% | 0.00% | -0.03% | -0.29% | -0.32% | |
| JPY | 0.09% | -0.11% | -0.13% | -0.12% | -0.16% | -0.41% | -0.45% | |
| Canadian | 0.21% | -0.01% | -0.00% | 0.12% | -0.03% | -0.29% | -0.33% | |
| Australian dollar | 0.25% | 0.03% | 0.03% | 0.16% | 0.03% | -0.27% | -0.28% | |
| New Zealand dollar | 0.50% | 0.29% | 0.29% | 0.41% | 0.29% | 0.27% | -0.03% | |
| Swiss franc | 0.52% | 0.31% | 0.32% | 0.45% | 0.33% | 0.28% | 0.03% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select EUR from the left column and move along the horizontal line to USD, the percentage change displayed in the box will represent EUR (base)/USD (quote).
