Tokyo, Dec. 10 (Jiji Press)–The dollar was firmer above 156.50 yen in Tokyo trading on Wednesday ahead of a policy decision by the U.S. Federal Reserve the same day local time. At 5 p.m., the dollar stood at 156.65-65 yen, up from 156.19-19 yen at the same time Tuesday. The euro was at 1.1646-1647 dollars, up from 1.1640-1640 dollars, and at 182.45-48 yen, up from 181.80-81 yen. The U.S. currency attracted purchases as Treasury yields rose on solid employment-related data released overnight. Regarding the upcoming Fed policy decision, an official at a currency margin trading service provider said, “The market has already priced in a rate cut, and attention is focused on the path of monetary policy next year and beyond.” The official added that the dollar could climb to its year-to-date high of 158.87 yen if speculation grows that the U.S. central bank will stop cutting interest rates. END [Copyright The Jiji Press, Ltd.]
Dollar Firmer above 156.50 Yen Ahead of Fed Decision
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