The dollar maintained its strength against a basket of its counterparts, on Wednesday, ahead of the Federal Reserve's interest rate decision later in the day, which is widely expected to be held, while the yen remained stuck near its lowest levels in 10 months.
The dollar index, which measures the greenback against a basket of currencies, settled at 105.17 as traders awaited the interest rate decision.
Reuters explained that attention is still turning to the yen amid the Japanese authorities' statements about the possibility of intervention.
The dollar maintained its strength against a basket of its counterparts, on Wednesday, ahead of the Federal Reserve's interest rate decision later in the day, which is widely expected to be held, while the yen remained stuck near its lowest levels in 10 months.
The dollar index, which measures the greenback against a basket of currencies, settled at 105.17 as traders awaited the interest rate decision.
Reuters explained that attention is still turning to the yen amid the Japanese authorities' statements about the possibility of intervention.
In the latest trading, the yen recorded 147.83 against the green currency, rising from its lowest levels at 147.92 yesterday, Tuesday, and close to its highest levels against the dollar prior to the Fed’s decision.
Speculation has increased recently about the possibility of the Bank of Japan ending its ultra-accommodative policy sooner than expected, but the Japanese central bank will likely keep interest rates low at its meeting on Friday, while reassuring markets that monetary stimulus will continue for the time being amid economic uncertainty.
In the same context, the euro stabilized at $1.0679, while sterling fell to $1.2388.
