- Still a long way to go to reach inflation target
Well, the expectations are certainly building and 2-year German bund yields have just hit a fresh 3-month high of 3.206% to start the day. With bond yields staying underpinned and the BOJ is still not hinting at any changes, the yen is facing more pressure again today. EUR/JPY is up another 0.6% to 154.50 at the moment, its highest level since 2008.