Yen climbs to two-week high ahead of Fed policy decision

16.09.2020 - Korneychuk Evgeniya
Yen climbs to two-week high ahead of Fed policy decision

The dollar and the yen gained ground on Wednesday as traders held on to their positions ahead of a U.S. Federal Reserve policy decision. Meanwhile, the yuan held gains on a positive Chinese economic outlook. 

The yen last stood at a two-week high of 105.26 on the dollar. The dollar rose against other majors after suffering a drop on Tuesday. 

The Aussie fell 0.1% to $0.7294, while the kiwi slid to $0.6708. The euro sat at $1.1837.

The Fed is expected to release its policy decision later in the day after adopting a more dovish approach to inflation. Investors are also looking for clues on the Fed’s economic projections and bond-buying programme.

The British pound recovered from last week’s lows on stronger-than-expected jobs figures. It sat at 1.2877 on the dollar and at 91.87 pence on the euro.

The yuan held its gains as positive economic data reinforced the market’s perception that China’s economy is recovering from the pandemic.

In offshore trade, the yuan stood at 6.7835 on the dollar. 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?