EUR/JPY dips on risk-aversion, and Tokyo CPI sparking speculations of BoJ normalization

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• EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction.
• Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen.
• ECB’s decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY.

The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday, on speculations that high inflation revealed by Japan with the Tokyo CPI surprisingly exceeding estimates, could motivate the Bank of Japan (BoJ) to normalize its monetary policy. That said, the EUR/JPY is trading at 158.06, down 0.48%.