Dollar Index Holds Steady as Yen Seeks Recovery

The US dollar index remained steady at 100.23 on September 21 after experiencing a notable gain of over 1% in the previous week following the Federal Reserve's rate hike.

This increase was attributed to the central bank signaling that more rate hikes could be on the horizon, which boosted investor confidence and subsequently the dollar's value.

The yen, however, showed some resilience at 156.64 per US dollar after experiencing a 2% drop in the previous week.

This recovery can be attributed to the Bank of Japan (BOJ) raising its interest rates to their highest level in 31 years, reaching 1.25%, which may have had a positive impact on the yen's value.