Yen Strengthens Against Dollar as Fed Holds Rates Steady

The yen strengthened in New York foreign exchange trading on the 29th, reaching a low of 163.37-163.47 per dollar by 5:00 p.m., marking a gain of 0.44 yen from the previous day.

This increase came after the Federal Reserve decided to hold its policy rate steady, causing expectations for a rate hike among some market participants to recede, resulting in a wave of dollar selling and yen buying.

In the London market, the euro rose against the dollar in early trading that morning, reaching $1.1395, $1.1405 by 7:00 a.m. UK time, up $0.0015 from the same point the previous day.