The USD/JPY pair trades sideways in the 147.70-147.85 region during the early European session on Wednesday. At the press time, the major pair is trad
Markets see the Federal Reserve keeping interest rates unchanged at 5.25%-5.50% at its September meeting.
pair trades sideways in the 147.70-147.85 region during the early European session on Wednesday. At the press time, the major pair is trading at 147.83, losing 0.01% on the day. The market turns cautious ahead of the key Federal Reserve The Federal Reserve is widely anticipated to hold the interest rate unchanged in the 5.25% to 5.5% range. According to the CME Fedwatch Tool, the odds of keepingunchanged in its September meeting is 99%.
On the JPY’s front, markets turn cautious amid the fear of FX intervention. Earlier on Wednesday, Japan's top currency diplomat Masato Kanda, delivered verbal intervention comments, emphasising that Japanese authorities are dealing with FX moves with a high sense of urgency. Additionally, US Treasury Secretary Janet Yellen stated that the US would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation.
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