{"id":8071,"date":"2023-11-01T12:04:05","date_gmt":"2023-11-01T12:04:05","guid":{"rendered":"https:\/\/infundpros.com\/markets\/currencies\/dollar-edges-higher-ahead-of-fed-decision-yen-remains-weak\/"},"modified":"2023-11-01T12:04:06","modified_gmt":"2023-11-01T12:04:06","slug":"dollar-edges-higher-ahead-of-fed-decision-yen-remains-weak","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8071","title":{"rendered":"Dollar edges higher ahead of Fed decision; yen remains weak"},"content":{"rendered":"<div>\n<p dir=\"ltr\">Investing.com &#8211; The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the yen remained near its one-year low.\u00a0<\/p>\n<p dir=\"ltr\">At 04:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 106.612.<\/p>\n<h2 dir=\"ltr\"><strong>Fed decision, Powell\u2019s press conference in focus<\/strong><\/h2>\n<p dir=\"ltr\">The U.S. dollar has continued to trade on the firm side as traders prepare for the conclusion of the latest policy-setting  meeting later in the day.\u00a0<\/p>\n<p dir=\"ltr\">While the central bank is expected to hold rates unchanged, it is also set to reiterate its higher-for-longer stance given recent data has pointed to a resilient economy despite a prolonged series of interest rate hikes &#8211; a scenario that bodes well for the dollar.<\/p>\n<p dir=\"ltr\">\u201cAdditionally, the geopolitical background remains dollar positive, where any threat of escalation in the Middle East and what it could do to oil prices remains a dollar positive,\u201d analysts at ING said, in a note.<\/p>\n<p dir=\"ltr\">Comments from  will take the spotlight as investors parse every word to gauge where interest rates are headed, particularly looking to see if Powell attempts to keep another hike on the table.<\/p>\n<h2 dir=\"ltr\"><strong>Traders remain on yen intervention watch<\/strong><\/h2>\n<p dir=\"ltr\">This dollar strength has been most apparent against the Japanese yen in the wake of the Bank of Japan\u2019s latest policy meeting, at which the  decided to keep interest rates negative, while only making minimal changes to its yield curve control policy.<\/p>\n<p dir=\"ltr\">The \u201cBoJ meeting has not triggered the reset on how we view the yen and the risk is now that  pushes ahead to 152 and prompts the central bank into aggressive FX intervention,\u201d said ING.<\/p>\n<p dir=\"ltr\">The BOJ intervened in the government bond market earlier Wednesday to rein in a jump in yields, after the benchmark 10-year Japanese government bond yield rose 2 basis points to 0.970% on Wednesday, a level last seen in May 2013.<\/p>\n<p dir=\"ltr\">This has helped USD\/JPY drop 0.2% to 151.31, but the Japanese currency remains close to the one-year low of 151.74 it hit on Tuesday and the three-decade low of 151.94 touched last year, which triggered an intervention by Tokyo at the time.<\/p>\n<p dir=\"ltr\">Masato Kanda, Japan&#8217;s top currency diplomat, said authorities were on &#8220;standby&#8221; to respond to yen&#8217;s recent &#8220;one-sided, sharp&#8221; falls, but it may need actual intervention instead of stern comments to stop more yen weakness.<\/p>\n<h2 dir=\"ltr\"><strong>Euro slips lower ahead of Powell\u2019s comments<\/strong><\/h2>\n<p dir=\"ltr\"> fell 0.1% to 1.0562, in the wake of data showing  rose by just 2.9% in the euro zone in October, their slowest pace since July 2021.<\/p>\n<p dir=\"ltr\">The European Central Bank must keep interest rates sufficiently high for long enough because inflation in the euro zone has not been conquered despite a significant fall in the past year, ECB policymaker Joachim Nagel said on Tuesday.<\/p>\n<p dir=\"ltr\">However, this data feeds into the narrative that the ECB is done tightening, and the euro could see more weakness if Fed Chair Powell is deemed to be hawkish later in the session.<\/p>\n<h2 dir=\"ltr\"><strong>Chinese private PMIs disappoint<\/strong><\/h2>\n<p dir=\"ltr\"> rose 0.1% to 7.3194, with sentiment towards the Chinese yuan remaining largely negative, as a  showed that China\u2019s manufacturing sector contracted in October.<\/p>\n<p dir=\"ltr\">The reading followed a  on Tuesday which showed a similar decline, and saw markets grow even more doubtful over a Chinese economic rebound this year.\u00a0\u00a0<\/p>\n<p dir=\"ltr\">Elsewhere,  traded largely flat at 1.2154, with  rising in October ahead of the Bank of England\u2019s latest policy meeting later in the week.\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/forex-news\/dollar-edges-higher-ahead-of-fed-decision-yen-remains-weak-3216365\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investing.com &#8211; The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-8071","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-currencies"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros<\/title>\n<meta name=\"description\" content=\"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=8071\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=8071\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-01T12:04:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-01T12:04:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/LYNXMPEE6M082_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=8071#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=8071\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Dollar edges higher ahead of Fed decision; yen remains weak\",\"datePublished\":\"2023-11-01T12:04:05+00:00\",\"dateModified\":\"2023-11-01T12:04:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=8071\"},\"wordCount\":584,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Currencies\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=8071#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=8071\",\"url\":\"https:\/\/infundpros.com\/?p=8071\",\"name\":\"Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-01T12:04:05+00:00\",\"dateModified\":\"2023-11-01T12:04:06+00:00\",\"description\":\"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=8071#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=8071\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=8071#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dollar edges higher ahead of Fed decision; yen remains weak\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros","description":"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=8071","og_locale":"en_US","og_type":"article","og_title":"Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros","og_description":"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the","og_url":"https:\/\/infundpros.com\/?p=8071","og_site_name":"inFundPros","article_published_time":"2023-11-01T12:04:05+00:00","article_modified_time":"2023-11-01T12:04:06+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/LYNXMPEE6M082_L.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=8071#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=8071"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Dollar edges higher ahead of Fed decision; yen remains weak","datePublished":"2023-11-01T12:04:05+00:00","dateModified":"2023-11-01T12:04:06+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=8071"},"wordCount":584,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Currencies"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=8071#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=8071","url":"https:\/\/infundpros.com\/?p=8071","name":"Dollar edges higher ahead of Fed decision; yen remains weak | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-01T12:04:05+00:00","dateModified":"2023-11-01T12:04:06+00:00","description":"Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=8071#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=8071"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=8071#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Dollar edges higher ahead of Fed decision; yen remains weak"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8071"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8071\/revisions"}],"predecessor-version":[{"id":8073,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8071\/revisions\/8073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/8072"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}