The yen steadied Tuesday after suspected intervention by Tokyo last week, while the U.S. dollar firmed on safe-haven demand amid the Middle East war.
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The dollar edged higher on Wednesday after the Federal Reserve kept rates unchanged in its first policy meetings chaired by Kevin Warsh.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.5% to 100.04.
“The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve’s dual mandate,” Federal Open Market Committee said Wednesday in a statement. “The Committee reaffirmed its policy of maintaining ample reserves in the banking system.”
The decision largely kept with expectations that the Central Bank would hold its benchmark rate steady in the range of 3.50% to 3.75%.
