In the Tokyo market on the morning of the 29th, dollar-yen rebounded, recovering to the ¥158 level and reaching ¥158.07 after falling to ¥157.70. Moves following the US Federal Reserve's decision to leave its policy rate unchanged had an impact, while attention is focused on the market ahead of the Bank of Japan's Monetary Policy Meeting.
In the Tokyo market on the morning of the 29th, dollar-yen was rebounding. Although the FOMC's decision to leave its policy rate unchanged temporarily triggered dollar selling, buying back of the dollar prevailed and the pair recovered to the ¥158 level. Trading ranged from ¥157.70 to ¥158.07.
Among other major currency pairs at the same time, euro-yen ranged from ¥175.94 to ¥176.15, while euro-dollar ranged from $1.1134 to $1.1161. Ahead of the Bank of Japan's Monetary Policy Meeting, the market is placing particular emphasis on the yen's direction.
The move is seen as the result of a combination of the dollar's weakness following the FOMC meeting and the resumption of buying back of the dollar. Meanwhile, attention is focused on future announcements regarding the meeting schedule and any additional policy guidance.