USDJPY: Asian foreign exchange market calms down, US dollar reco
Updated
Most Asian currencies fluctuated in a narrow range on Wednesday, but the dollar pared recent gains after some Federal Reserve officials warned against betting the central bank would stop raising interest rates. Expanded.
This will focus attention on Fed Chairman Jerome Powell's upcoming speech as markets look for further signals on U.S. monetary policy.
Sentiment towards Asian markets remains subdued as traders remain nervous about hawkish signals from the Federal Reserve. Signs of continued weakness in China's economy also have traders wary of regional markets.
The Japanese yen fell 0.1%, remaining above 150 yen to the dollar, with dovish signals from the Bank of Japan and a strong dollar providing little support. The weak currency has traders bracing for possible foreign exchange market intervention by the Japanese government aimed at strengthening the yen. Japan's cabinet issued a series of verbal warnings against such moves in October.
This will focus attention on Fed Chairman Jerome Powell's upcoming speech as markets look for further signals on U.S. monetary policy.
Sentiment towards Asian markets remains subdued as traders remain nervous about hawkish signals from the Federal Reserve. Signs of continued weakness in China's economy also have traders wary of regional markets.
The Japanese yen fell 0.1%, remaining above 150 yen to the dollar, with dovish signals from the Bank of Japan and a strong dollar providing little support. The weak currency has traders bracing for possible foreign exchange market intervention by the Japanese government aimed at strengthening the yen. Japan's cabinet issued a series of verbal warnings against such moves in October.
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