Yen hovers near multi-day lows

Economies.com
2018-03-21 06:00AM UTC

Yen was little changed  on Wednesdayafter plumbing the lowest this week yesterday, with investors readjusting their positions before the Federal Reserve's policy decisions today. 

 

USD/JPY last traded at 106.46, near the opening of 106.52, with an intraday low at 106.44, and a high at 106.54. 

 

Asian stocks gained ground today as investors correct their positions before Fed's decisions, in turn keeping the pressure on yen, which already suffered yesterday from dollar's rally against major rivals. 

 

Japanese markets are shut today for a bank holiday, causing thin trading on yen versus partners. 

 

Dollar has lost some ground today, however yen lacks enough momentum to capitalize on dollar's weakness, especially as investors await Fed's policy decisions and expectations later. 

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