Dollar edges higher ahead of Fed decision; yen remains weak
Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the yen remained near its one-year low.
While the central bank is expected to hold rates unchanged, it is also set to reiterate its higher-for-longer stance given recent data has pointed to a resilient economy despite a prolonged series of interest rate hikes - a scenario that bodes well for the dollar. This has helped USD/JPY drop 0.2% to 151.31, but the Japanese currency remains close to the one-year low of 151.74 it hit on Tuesday and the three-decade low of 151.94 touched last year, which triggered an intervention by Tokyo at the time.
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