In the Tokyo market on the morning of the 29th, the dollar-yen pair was soft, trading in a range of ¥157.60 to ¥158.06. The U.S. FOMC announcement was in line with market expectations but was less hawkish than anticipated, and dollar selling progressed as U.S. yields declined.
In the Tokyo market on the morning of the 29th, the dollar-yen pair was soft, trading in a range of ¥157.60 to ¥158.06. The euro-yen pair formed a range of ¥175.82 to ¥176.15, while the euro-dollar pair traded in a range of $1.1133 to $1.1160.
Although the Federal Open Market Committee (FOMC) outcome was in line with market expectations, its outlook was less hawkish than anticipated, and U.S. yields declined. This prompted broader dollar selling.
RBNZ Governor Breman was quoted as saying, “The possibility of a rate hike at the next meeting in December is quite high.”