By Brigid Riley TOKYO (Reuters) - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision ...
By Brigid Riley TOKYO - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day. The U.SMusicians, humour and stories galore help Bruce Guthro's Celebration of Life | SaltWireTOKYO - The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate decision by the Federal Reserve later in the day.
Markets expect the Fed will almost certainly keep rates on hold at 5.25% to 5.50%, putting the focus on the central bank's forward guidance. "We expect the FOMC to retain its forecast of one extra 25 hike by year-end, though it will not follow through with it in our view," said Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia.The yen last sat nearly 0.1% higher at 147.77 versus the greenback, off Tuesday's low of 147.92 though hovering near the 10-month trough against the dollar ahead of the FOMC announcement.
Japan's top financial diplomat, Masato Kanda, reiterated warnings on Wednesday, saying Japanese authorities are always in close communication on currencies with U.S. and overseas policymakers while keeping a close watch on market moves with a"high sense of urgency".
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