The dollar fluctuated sharply this week ahead of the US midterm elections, but expectations for additional US rate hikes supported it. Even after the Japan-US monetary policy meetings, the ¥158 range remained heavy.
The dollar fluctuated sharply in the FX market this week as uncertainty surrounding the US midterm elections increased.
However, persistent expectations for additional US rate hikes provided support for the dollar.
Although the Japan-US monetary policy meetings passed without incident, dollar-yen remained heavy in the ¥158 range.