Tokyo, Dec. 11 (Jiji Press)–The dollar was weaker below 156 yen in Tokyo trading on Thursday morning, following the U.S. Federal Reserve’s decision overnight to cut interest rates. At noon, the U.S. currency stood at 155.77-77 yen, down from 156.65-65 yen at 5 p.m. on Wednesday. The euro was at 1.1694-1694 dollars, up from 1.1646-1647 dollars, and at 182.15-17 yen, down from 182.45-48 yen. The greenback was on the back foot as traders were mindful of a narrowing interest rate gap between the United States and Japan following the Fed decision. At its Federal Open Market Committee meeting, the U.S. central bank decided to reduce its policy interest rate by 25 basis points, while indicating the scenario of lowering the rate once in 2026. While the latest rate cut “had been priced in,” the Fed was “more dovish than expected” regarding the pace of future rate cuts, said an official at a currency margin trading service provider. END [Copyright The Jiji Press, Ltd.]
Dollar Falls below 156 Yen after Fed Rate Cut
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