EUR/JPY is down 0.18% near 169.20 in Friday’s European session. German Industrial Production fell 0.1% MoM in April, worse than expected. BoJ’s Ueda noted inflation expectations are rising but have not reached 2%. The Euro declined after the weak German data, while verbal intervention from Japan supported the Yen. The ECB cut interest rates by 25 bps in June, with GDP data awaited for further direction. Analysts expect BoJ to reduce government bond buying due to Yen weakening. Governor Ueda mentioned inflation expectations are increasing but have not hit 2% yet. Board member Nakamura suggested maintaining current policy for now.