USD/JPY (JPY=X)
- Reuters
FOREX-Dollar eases as traders weigh Fed's rate path; yen rises
The dollar index, which measures the currency against six major rivals, fell 0.097% at 102.48, just above the seven-week low of 101.91 it touched on Thursday. The Fed on Wednesday raised interest rates by 25 basis points, as expected, but took a cautious stance on the outlook because of banking sector turmoil even as Fed Chair Jerome Powell kept the door open on further rate increases if necessary. Markets are pricing in a 68% chance of the Fed standing pat on interest rates in the next meeting and a 32% chance of another 25 bps hike, according to CME FedWatch tool.
- Reuters
FOREX-Dollar steady after Fed's rate pause hints, yen rises
The dollar was steady on Friday near seven-week lows as nervousness over the banking system kept investors skittish and traders absorbed the Federal Reserve's hints of a pause to interest rate hikes. The Fed on Wednesday raised interest rates by 25 basis points, as expected, but took a cautious stance on outlook because of banking sector turmoil. U.S. Treasury Secretary Janet Yellen on Thursday reiterated that she was prepared to take further action to ensure that Americans' bank deposits stayed safe, in a bid to calm investor nerves.
- FX Empire
USD/JPY Forecast – US Dollar Rallied Slightly Ahead of FOMC
The US dollar has rallied slightly against the Japanese yen during the early hours on Wednesday as the market awaits the FOMC decision.
